Janice Schakowsky: “a 10 percent across-the-board income tax cut, what could sound more appealing, more simple, more fair? Hearing those…”

“a 10 percent across-the-board income tax cut, what could sound more appealing, more simple, more fair? Hearing those words, hard-working American taxpayers start dreaming about what they could do with the money. Replace that beater with a new car, repair the leaky roof, send their child to college, maybe take that long-awaited second honeymoon. Well, forget it. The sad truth is that 77 percent of all taxpayers, nearly 35 million people, would receive no tax cut at all. A two-parent family of four with annual income below $25,000 would get nothing. So who benefits from that trillion-dollar tax cut over the next decade? Citizens for Tax Justice tell us it is the wealthiest Americans. Here is the deal. Taxpayers earning $38,000 get back $99. Taxpayers earning over $300,000 get a tax cut of $20,000. For most of us, this is one bad deal.”