Received an email from Rep. Raul Labrador, who needs to do the math on the budget that only the Republicans created. He quotes from the Tax Policy Center: “The bottom 80 percent will get 35 percent of the tax cuts while the top 1 percent will only get 21 percent of the cuts.” There were about 150 million personal income tax forms given to the IRS in 2016. One percent of 150 million is 1.5 million receiving 21 percent of the tax cut. Eighty percent of 150 million is 120 million who received 35 percent. So, 80 times more people received 1.6 times more of the tax cut. Also,the highest rate went from 39.6 percent to 37 percent. A person with only $1 million adjusted income would receive an income increase of $26,000. The federal debt will increase $1.5 trillion. That is 1,500 times more than $1 billion. If the federal budget unlikely gets a $1 billion “surplus” for 1,500 years, it will pay off that debt.
Lastly, the Republican Party needs to look at Greece, Puerto Rico and Kansas to see what is the end result for spending more and more each year with less dollars. Please note, President Obama never asked to raise the income of himself or Congress.
Dennis G. Falk, Boise