Quote:
Originally Posted by detbuch
You keep saying this, but the article you linked did not state that this is actually what would happen.
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I have seen it reported several places. The "admittedly extreme" scenario was the authors opinion, but according to the congressional analysis, it is actually what was proposed.
The following is directly from the Joint Economic Committee (10 rep., 10 dems) report
"After eliminating the deductions for state and local taxes, mortgage interest and charitable contributions, removing the employer‐provided health insurance exclusion, and taxing 401(k) contributions, the typical household making
more than $1 million and filing a joint return will still experience a net
reduction in taxes of $286,543 under Ryan’s budget. The typical household earning between
$500,000 and $1 million will see their tax burden
decline by $37,887.
For households making less than $200,000, removing the tax deductions, making 401(k) contributions subject to taxes, and eliminating the exclusion for employer‐provided health insurance outweighs the benefit of the lower tax rates in the Ryan plan. The net effect is that a typical household earning between
$50,000 and $100,000 and filing jointly will face a
tax increase under the Ryan plan of $1,358, assuming the additional income is taxed at a 10 percent rate. If those households end up in the 25 percent tax bracket, their additional
tax burden would more than double to $2,938. For households with incomes between
$100,000 and $200,000, the tax increase is $2,681."
http://www.jec.senate.gov/public/?a=...f-9b88695dcb85
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