There has been a lot of misinformation being spread around lately about the recently passed Tax Cuts and Jobs Act of 2017. Some politicians have even called it a “TaxScam”…
It’s best to start with addressing the question, “Why do we pay taxes?” We pay taxes to support the vision for our country that is established in the Preamble of the Constitution.
Who pays taxes? Currently the top 50% of income earners in the U.S. pay 97% of all income taxes. The bottom 50% pay only 3%. The Top 1% pay almost 40% of all taxes received by the government. This skewed distribution places the financial income of the government upon the shoulders of a small group of citizens.
So, what does a tax cut do? Simple, it allows Americans of all incomes to keep more of their hard-earned money.
Doesn’t that benefit the “rich”? Sure, it benefits everyone including the wealthiest who pay the most in taxes. Thus, it is natural that the benefits will be captured proportionally by those who have paid the most in tax revenue. Let’s be very clear though, everyone is simply keeping more of their own money rather than giving it to the government. The notion that the government is taking from the poor and giving to the rich is nothing more than political rhetoric.
How do the tax cuts affect me?
The House Ways and Means Committee published this list of the impact of the tax cuts for every district in the country.
The 15th District:
4 Person Household Median Income = $137,758
Tax Savings = $4,841 ($403/mo)
Single, No Kids Median Income = $106,291
Tax Savings = $2,703 ($225/mo)
This is REAL money and it’s YOUR money. When you keep more of your money you get to decide how it is spent. You can pay down debt, put it away for college education, take a vacation, invest it in the stock market, buy a gym membership…the options are endless!
I support lower taxes and will work to keep taxes low for hard working District 15 Families. Eric voted against the tax savings preferring to have more money in Washington’s pocket rather than yours.