New tax-cut extension to harm 51 million households?
New tax-cut extension to harm 51 million households?
Since the Making Work Pay credits expire and are worth more than the extended tax cuts (and modifications) to lower-income households ($20K or less for individuals; $40K for married), 51 million of the poorest working American households will take home less.
So that the wealthiest workers will get a tax-break extension.
Also, the new provision don’t bring in as much for Social Security, which I presume has enough funds in it already and can absorb the loss.
Does the new bill include random puppy killings too?
UPDATE: on reflecting on this more, I’m not sure what the exact tax numbers come out to be, but it seems like keeping the Making Work Pay credit would have been better.