ATF in the News · June 20, 2012

CHARTS: Republican Plan For The Bush Tax Cuts Has Rich Pay Less And Poor Pay More Than Obama’s Plan

According to a new report from Citizens for Tax Justice, the Republican approach to the Bush tax cuts — which is simply to extend all of them into perpetuity — would, of course, involve the rich paying lower taxes than President Obama’s plan, which is to allow the cuts to expire for the richest two percent of Americans. However, under the Republican approach, low-income Americans would also pay more than they would under Obama’s plan, because of expansions of the Earned Income Tax Credit and Child Tax Credit that the GOP would not extend.