Nancy Pelosi held a press conference in which she repeated the same lies on the tax reform package that she has for months. She claims that 83% of the cuts go to the top 1% of the taxpayers.
Pelosi told the press that:
“As we all know that the, uh, the, um, the Republicans have this tax cuts for the rich — 83% of the benefits going to the top 1%, 86 million middle class American families,will be paying, uh, more taxes in the life, of, of the bill, and, what’s important is it increases the deficit when you add in interest on the national, uh, on the uh, tax cut for the cor— corporate to over two, uh, two trillion dollars added to the deficit.”
During this, her face is having spasms and she kept having brain farts and using the wrong words. I will explain that to you later on. But the important thing is she is lying through her teeth.
Corporation taxes are cut by 1.35 trillion dollars but loopholes were closed that will cost corporations $695 billion dollars and will pay 324 billion more because of changes to the international tax changes.
For individuals, the tax cuts benefit taxpayers in every income group, not just the wealthy. The three largest tax cuts come from the across-the-board tax rate reductions for all taxpayers ($1.2 trillion), the increased standard deduction ($720 billion), and the expanded child tax credit ($573 billion), all of which will provide substantial tax relief to middle-class taxpayers.
According to the House Ways and Means Committee, the typical family of four earning the median income of $73,000 will receive a tax cut of more than $2,000 a year. The claim that the bill only benefits the wealthy is wrong.
After watching the video and listening to Pelosi, I realized where I had seen this behavior before. Watch the next video and you will understand what I mean.