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

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


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.

Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate