TPC Report: Paul Ryan’s Tax Plan Gives 100% of Its Benefits to the Top 1%

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File this one under “too good to check.” Max Ehrenfreund passes along the latest analysis of Paul Ryan’s tax proposal from the Tax Policy Center and notes that by 2025 it gets a wee bit lopsided:

This is like a parody of Republican tax proposals. In its first year, the top 1 percent start off getting a mere 76 percent of the benefit. But as Table 5 shows, within ten years they get nearly 100 percent of the benefit. Ryan and the congressional Republicans manage this by giving the poor and middle class nothing and actually taking money away from the upper middle class. The only people who benefit are the rich and the really rich.

As for the really, really rich, the top 0.1 percent get an average tax break of $1.4 million, while the rest of us get about $3 trillion in extra federal debt and no long-term change in economic growth. What a deal.

POSTSCRIPT: I should note that for some reason TPC’s numbers don’t add up to 100 percent. This might mean there’s an error in the table. But even if there is, it’s a small one.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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