call the distribution chart, when that comes out in the cbo scoring. and it shows you how a tax bill will affect the various income classes. and when i think of all the distribution charts that you and have i seen, it s always been try to make sure that the impact is being the benefits are chiefly on the bottom half of that distribution chart. and you re looking to minimize the benefits as you go up in income. it seems like they simply reversed all of those distribution charts that you ve used in the democratic administrations. yeah. i mean, it s shocking. when you look when the senate bill is fully implemented, people in the top 1/10 of 1%, those making over $5 million have a $200,000 tax cut. and yet 82 million americans under $200,000, middle class, upper middle class, working poor americans are actually given a
try to make sure that the impact is being the benefits are chiefly on the bottom half of that distribution chart. and you re looking to minimize the benefits as you go up in income. it seems like they simply reversed all of those distribution charts that you ve used in the democratic administrations. yeah. i mean, it s shocking. when you look when the senate bill is fully implemented, people in the top 1/10 of 1%, those making over $5 million have a $200,000 tax cut. and yet 82 million americans under $200,000, middle class, upper middle class, working poor americans are actually given a tax increase. people wonder how is that possible when you have a $1.5 trillion that they have given themselves permission to increase the deficit. and the answer is that it really does go to your priorities.
tax cut plan, and every moment you know more about it you realize the tens of millions of middle class americans are going to see their taxes increase. and i think they re trying to rush this, lawrence, so that nobody knows what is really in the bill by the time it passes. but i ll tell you, what these republican members of congress need to remember sits possible to rush it so the public doesn t understand it. by the time you vote. but people will understand it by the time they vote in 2018. and i think a lot of members of congress, republicans in congress are going to have a lot to answer for. and gene, you ve worked on tax legislation in the clinton administration, the obama administration. and i know for the democratic side that one of the documents that people most eagerly try to get their hands on is what they call the distribution chart, when that comes out in the cbo scoring. and it shows you how a tax bill will affect the various income classes. and when i think of all the di
republicans did this kind of massive tax cuts, president george w. bush actually took the bottom tax bracket down and it was 15% and he took it down to 10% which was politically a brilliant stroke because it helped what they call the distribution chart who benefits by how much over the income ranges. to see the bottom tax bracket actually increase is really a stunning tone deaf note that s in this plan. well, almost everything this administration does is politically tone deaf. the problem they have is that they want to massively cut the corporate tax rate and there isn t enough there aren t enough tax loopholes on the corporate side that just pay for it honestly by getting rid of those loopholes. they have to find some additional revenue and so they re squeezing the individual side which is actually the opposite of the tax reform act
absolutely nothing. there is just massive rewards as you go up that income scale. one more thing about that, as you know, adam, you ve seen what people hand out when they hand out real tax plans. the so-called distribution chart that accompanies all real tax legislation. and even at the memo level in washington. and the distribution chart is the part that says this is how it will affect the different classes of taxpayers based on income. here is how much money will go to the various taxpayers. here is how much will be taken from the various taxpayers in this thing there is not each a hint that of here. no. i think people are being very generous in calling this a plan. it s talking points. that s all it is. it doesn t pass the laugh test in terms of seriousness on the hill. you know, as you sort of alluded to, this is something that is going to have to have democratic support. you basically have a page of bullet points that are designed to do nothing but hand out