#RyanTownHall Fact Check: GOP Tax Reform Plan is Just Another Tax Cut for the Wealthy
August 22, 2017
"We want a tax code built for growth, built for economic activity. We want a tax code that raises wages." – Speaker Ryan on Trumpcare at his CNN Town Hall tonight
However, the Republican tax reform proposals that have been put forward by Speaker Ryan are yet another attempt to give tax cuts to the wealthiest few on the backs of hard-working American families. Here's what the GOP plan would do:
- Blow a huge hole in the deficit – at least $3 trillion over the next ten years.
- Hide the fact that the Bush tax cuts for the high-end did not create jobs and only increased the deficit.
- Pave the way for cutting Medicare, Medicaid, and Social Security.
- Trigger a massive opportunity cost as well: These tax cuts would mean that critical domestic, job-creating investments such as infrastructure, education and job training aren't made, among other top priorities.
Democrats promise the American people A Better Deal with better jobs, better wages and a better future. We must have "Not One Penny" in tax cuts for the top 1 percent. Speaker Ryan and House Republicans must put an end to their partisan politics and work with Democrats to improve the lives of everyone, everywhere.