Those who are at the lower end of the economic scale, and i think thats appropriate. So its middleclass tax relief but heres how it works. The share of federal taxes paid in 2019, which is a year after this is implemented, it starts right away, by the way, so middleclass families are going to get that relief right away. Currently is in the red and then our proposals in the blue. If you make, again, zero to 20,000, its very unlikely that you have income Tax Liability. But some families do and the average is. 1 . If you make 20,000 to 50,000 a year, your share of federal taxes goes down from 4. 3 to 4. 1 , in our bill. If you make 50,000 to 100,000, your share of the federal taxes goes from 6. 9 to 6. 7 . If you make 100,000 or above, your share goes not down. It goes up. From 78. 7 to 78. 9 . The top percent of wage earners in this country, earners, top 10 pay approximately 70 of the income taxes right now. After our bill is passed and implemented, they will pay more than 70 . So it is
Friday night and you hand out the work product for all the members of the senate to take a look at before they vote on changes in the tax code that will affect the people they represent. This is what happens. 479 pages were handed to us. They tell us some of this has been around for a while. Some of its new. They dont tell us which part is new and which part is old. But, lucky for us, on k street, and there is nothing wrong with lobbyists, but on k street where the federal lobbyists live, they are following this really closely and they have given us basically a cheat sheet. A score card. So we can figure out at least generally speaking how many changes have been made in the 479 pages since the last time we aw this proposed bill. Now, i defy any member of the senate to stand here and take an oath that they have read this and understand what in the world it means to businesses and families and individuals. If they want to take that oath, and maybe some will, then i refer them to, ladies