Good luck understanding all the numbers
Nov 3, 2017, 10:51 AM | Updated: 10:51 am
The ranking member of the Ways and Means Committee and Senate Minority Leader Chuck Schumer., hold a news conference on Capitol Hill to respond to the Republican tax reform plan in Washington. (AP Photo/J. Scott Applewhite)
(AP Photo/J. Scott Applewhite)
The Republicans came out first with their tax reform numbers.
“The typical family of four will save $1,182 a year on their taxes,” Speaker of the House Paul Ryan said.
Ross: Why not just troll the Internet trolls?
Then along come the Democrats with metaphor du jour.
“The bill’s like a fish. If it stays out in the sunlight too long it stinks,” Senator Chuck Schumer said.
Like a fish in the sun.
But Sen. Schumer also had some numbers. A married couple making around $100,000 on Long Island, for example, make more than that.
Right now they get to itemize state and local income taxes, student loans, and medical expenses, which they couldn’t do under the Republican bill.
“This family pays $5,727 more in taxes while the wealthy get a huge break.”
A $5,727 tax increase for a working couple! Not exactly. He got the number wrong.
Turns out, it’s nowhere near $5,000. Although it is still an increase. It’s $933 more, not $5,727.
The point being, we’re going to hear a lot of numbers, but when even the people whose job it is to understand them don’t.
Chances are you and I won’t know where we stand until about midnight April 15 – although, I hear that if you do it right – a sun-dried fish can last that long. Yum.
-
Tune in to KIRO Newsradio weekdays at 5am for Dave Ross on Seattle's Morning News.
