Co.Design

Infographic: Who Benefits From the Republican Tax Plan?

After all the partisan bickering, a graphic lays out the facts.

The tax plan created under Bush will expire in January, meaning that a new plan will need to be in place before we head into the new year. Already the battle over whether to extend them or let them die has become a political knife fight.

Democrats say the Republican plan will help the rich. Republicans claim the Democrat plan will bust the budget. We've heard so much back and forth about this, for so long, it's hard to know what's truth and what's fiction. Well, a new study was released by the nonpartisan Joint Committee on Taxation that surveyed both plans. And this infographic in today's Washington Post lays the facts right out there for us.

The two plans seem relatively similar up until you hit incomes of $500,000 per year, with Democrats seeking to give slightly more to the middle class.

But after that threshold, the Republican tax cuts look generous indeed for the extremely wealthy. As Jon Stewart and others have noted, this doesn't seem to make much sense, if you're trying to balance the budget. Which is why even Alan Greenspan has called for all of the Bush tax cuts to expire--even the ones to the middle class, which Democrats want to preserve.

[Washington Post]

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4 Comments

  • Settin' it straight

    will collins, it's not a hidden assumption...if you do business and make money in our country where the government supplies the environment, services, regulations, etc. etc. then you will need to chip in to take advantage of that. You know the investment saying, "you need to spend a little to make a little". The opinion you are expressing is that you just want everything for free...or for other people to pay for you. It's odd that you don't seem to have this basic knowledge of how things work.
    Considering the graph above, the fact that tax rates are the lowest in 50 years and that from 1998-2005 two thirds of corporations in America didn't pay ANY income tax...and that the rich used to pay 90% income tax 80 years ago, I'd have to say that it's difficult to take your opinion seriously.

  • Philip de la Gueronniere

    Small Businesses are taxed as individuals. No more hiring and capital investment.

  • will collins

    What is the hidden assumption of this article? That money above all else belongs to the government first. This article is similar to asking "who benefits from the return of stolen goods?" but the article does not see the conclusion of it..."the people from whom the money was taken in the first place."