Another GOP Tax Plan For The 1 Percent

Problems viewing this email? View it in your web browser. Another GOP Tax Plan For The 1 Percent Dec 13, 2011 | By ThinkProgress War Room How Much Does Newt Gingrich's Tax Plan Benefit the Wealthiest of the Wealthy (Top 0.1 Percent)? This much: While Mitt Romney's plan economic plan — a windfall for the 1 Percent paid for by the 99 Percent — would provide $6.6 TRILLION in budget-busting tax cuts to the wealthiest Americans and corporations, Newt Gingrich's plan far outdoes him on both scores: The average millionaire would get a whopping $615,689 annual tax cut Those in the wealthiest top 0.1 percent would receive an annual tax cut of more than $2 MILLION each — on top of what they're already getting from the Bush tax cuts Millionaires would pay a lower tax rate than middle class families making $40-50,000 a year In 2015, the tax giveaway to millionaires and billionaire alone would be about the same size as the entire Medicare budget under the Paul Ryan GOP budget plan. In the best year of his plan, 2015, the deficit would be a whopping $1.2 TRILLION — even after taking into account the draconian spending cuts imposed by the Paul Ryan GOP budget plan. The publicly held debt would double by 2019 and triple by 2024. IN ONE SENTENCE: In the race to deliver trillions in tax cuts to the wealthiest Americans, Newt Gingrich is the winner in a landslide. Evening Brief: Important Stories That You May Have Missed Dana Goldstein wonders "What is school for?" There's an omnidirectional push and pull between Shia religious capitals and political capitals in Iran and Iraq. "Democratic realism" is seeing a revival, but is it still a "hollow concept"? Lawmakers respond to Lowe's anti-Muslim stance. The Florida Family Association has been manufacturing faux outrage for years. Louis C.K. models how to limit what television shows young people see. One report asks why do so few mothers want to work full-time? Budget cuts proposed by Republicans in Pennsylvania mean police response to 911 calls could take days. House Republicans are risking a White House veto by adding "poison pills" to payroll tax cut extension bill. Manage Email Options | Privacy Policy | Unsubscribe THINKPROGRESS | Center for American Progress Action Fund 1333 H Street NW, 10th Floor | Washington, DC 20005