Fact Check: The Republican Tax Plan

President Trump and the Republicans aim to pass their tax overhaul before Christmas. Does it deliver on their promises?

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[Nocball]

The cheering people are obviously rich.... This tax plan does very little for the middle school. Enjoy your few more dollars on your paycheck... It's going to be taken somewhere down the line.

[nuckinfuts]

He makes the presidents, every single one before him, look like compulsive truth tellers with tourettes-like symptoms that display sudden and loud outbursts of honesty....anywhere at anytime. All along while experiencing unavoidable urges to be blantantly forthcoming.

Every single one.

[ghepardogts]

The biggest tax cut benefits go to the top 1%

[cheesetoast]

Remember it was republicans who got us into this debt in the first place.

[powdernitz]

i gross 55 k a year and i donate 10% of my gross income to charity from every paycheck. this sounds like i'll be hurt from these changes.

[jasenjahn]

“Believe me, these taxes will hurt me”

[ralki]

Rep's love to repeat the talking point about the rich paying the majority of the taxes. But they don't tell you it's because they hold the majority of the nations total income and wealth. They also don't tell you that individually the rich pay a lower effective tax rate than does ordinary middle class Americans. They also don't tell you that the top 1/10 of 1% continue to hold an ever greater share of the nations total income and wealth. Take a simplified example for illustration.

Assume a population of 100 people.

98 of them make $50K, pay tax at 20%, total taxes paid = $980K.
They have essentially zero disposable income.

2 of them make $10M, pay tax at 10%, total taxes paid = $2M.
They have a disposable income of about $8M each.

Rep's would point out that the richest 2 pay 67% of the tax, and claim that they should therefor get a tax cut. And idiots like you swallow it.

[Fenix-sftg]

Actually that last fact is false. NY taxes will actually be higher for the rich... How can you get that wrong NY times...

[RetroNoise]

If this thing really gets rid of health care fines, then I'm all for it.

This Trump's billionaire tax giveaway must be repealed and replaced. The middle-class was sidelined on this bill and has been left holding the crumbs. A 15% reduction in business taxes, which is good. Also, many loop holes for real estate businesses, which is obvious given Trump and other senators are invested in this sector. However, middle-class and individuals see increase in tax credits only and which are temporary. Why wasn't there a taxes cut for the middle-class also? A 5-10% cut for the middle-class should have helped.This tax law must be REPEALED & REPLACED!

[Catawallupin]

Not paying taxes doesn't make you smart, it makes you a criminal. If you take your money and leave the country and say that your company is based in that country for tax reasons, then you and all your employees might just as well relinquish your citizenship and pay import duties on all of your U.S. activities. You cannot have it both ways. Either you are for building THIS country up or you are against building this country up.

Social security payouts are not enjoyed by just the poor and the cap on the amount of income taxed unfairly shifts the tax burden of the entire program onto the poor. All income should be taxed as earned income and everyone with income owes a percentage of that to social security.

Capital gains are the same as earned income because if you sold shares of a company at a profit, your money is no longer at risk.

There needs to be a sales tax on all transactions where shares change hands. This will encourage investment and discourage speculation.

Pure socialism is when the government owns the means of production. We are in no danger of ever coming close to being a socialist country. Social security, Medicare for all, universal healthcare, public libraries, the US postal service and even universal basic income will not make us socialists. Pure capitalism would not have allowed bailouts for banks that should have failed. Welfare for corporations may have been the worst thing we have ever done but ask me about this in a few years after this GOP tax overhaul has had a chance to be law.

[WILSON.]

If high taxes were the solution to national prosperity, we would have been better off under British rule, and never broken free! How did we grow all those years with barely any taxes, create the modern middle class as we know it, create the most prosperous country in the world?

[TheTalkShow-JACKIESCHAN]

Really benefit for working American families?

[vibid]

Thank you NYT for being a voice of reason in this tumult of nonsense

[skibumrx]

People are really worried about what will happen to taxes after 2025. Why? The longest Trump can be in office is until 2024 if he gets reelected. That puts the president elected in 2024 in charge of putting their tax system in place before 2025.

[ryanedwards]

Thank you for a mostly unpartisan breakdown.

[AmRFuKYaH]

Can you fact check, "If you like your doctor you can keep your doctor?"

[oceaniclove]

Ben Shapiro argues - Trump is rich, why would he care of tax deductions? He don't care!

[TheChazaqingdude]

Seeing the word "fact" on a headline associated with the NYT. Now that's a joke!

[dianascrimger]

It would be illegal for someone to use a joint married tax return! Actually it would be considered perjury! So bye bye to the equality act!