The Washington Post gave Democrats four Pinocchios for saying Republican tax cuts result in tax increases of $800. The Tax Policy Center said 80 percent of taxpayers would get a tax cut starting next year.
Democrats say the GOP tax cut raises taxes on 86 million middle-class families. This Democrat lie is based on what will happen in 2027, if the individual tax cuts expire. Democrats are deliberately ignoring the immediate tax cuts in the bill, and are relying on estimates about what will happen a decade from now if the tax cuts expire.
If Republicans are in power in 2027 they will extend or make permanent the individual tax cuts. Do Democrats plan on raising these rates if they are in power in 2027? Sadly, probably yes. Democrats love raising taxes.
The Heritage Foundation examined many typical middle class families and found the tax cuts will result in major savings. A married couple with 3 children, earning $75,000 would save $2,014.
The standard deduction and child tax credit will double. Deducting the expenses for homeownership, medical care, education and charitable giving remains. There are savings for graduate school students, paying off medical bills, charity and up to a $1,400 refund for families owing no taxes.
The Republican individual tax cuts benefit the middle class. Reducing what was one of the highest corporate tax rates in the world will benefit everyone. Class warfare about what will happen in 2027 if Democrats control Congress helps no one.