Breaking News: Oops! Walker proves tax bill grossly favors millionaires - News Paper

WI GOP Gov. and boy who flunked 8th grade Math Fundamentals Scott Walker just fell into that old percentages trap.

While trying the other day to show on Twitter that modest wage earners are the bigger beneficiaries of the Trump-Ryan tax giveaway bill, Walker ended up proving that millionaires will make more than times as much money from the Trump-Ryan tax bill than filers making $50,000 or less..

Take a look at his tweet, don't quibble about the numbers he posted and just do the math for him:

Scott Walker‏Verified account @ScottWalker

“Lumping all taxes together, the Joint Committee on Taxation indicates that taxpayers making less than $50,000 will get an average tax cut of 11.2 percent, while those making over $1 million will get a tax cut of 5.9 percent.” - The Lindsey Group1:33 PM - 20 Dec 2017

For the lower wage earners, 11.2 per cent of $50,000 is $5,600.

For the millionaires, 5.9% of $1,000,000 is $59,000 - - a sum more than ten times the savings for the lower-earners, and, in fact, larger than an entire year's lower-earner income.

And since Walker's Twitter feed is filled with rote GOP talking point about tax reductions that put more money in your pocket, which would you rather have in your pocket - - $5,600 or $59,000?

Which goes farther? Which can be used to generate more wealth?

And which category of earners do you think had better access to the lobbyists who worked on the bill with GOP legislators in Congress behind closed doors to distribute the benefits disproportionally of the tax bill to one set of Americans by a factor of ten?
 

from The Political Environment http://ift.tt/2BtnDIZ
Breaking News: Oops! Walker proves tax bill grossly favors millionaires - News Paper