Pay more taxes and receive less

The Congressional Budget Office published a report estimating effects on household income if the GOP’s budget reconciliation bill pushes through. The poor and middle class will effectively net less in income and the upper class, especially the top 0.1%, will net more. G. Elliott Morris describes it as paying more for less, which is a raw deal.

In other words, by decreasing the amount of tax revenue it gathers from the ultra-rich, decreasing the transfers it makes to the poor, and increasing its overall spending, Republicans are asking middle-income and poor families to shoulder a much larger share of the federal deficit — all while they get less from the government. They are asking you, in summary, to pay more for less.

The chart above is from CBO. It compares income for the lowest decile against the highest as a percentage. Check out Morris’s chart that shows the shift in dollars. The bars grow much taller on the high end with an absolute scale.