5 Myths About Tax Reform, and Why They’re Wrong

… taxpayers across America can expect a tax cut. The bill would lower tax rates for individuals and businesses, double the standard deduction, and significantly increase the child tax credit.

The bill is also pro-growth and pro-American worker. The economy could grow to be almost 3 percent larger at the end of 10 years. That translates to more than $4,000 dollars per household, per year. American families could finally get a real raise.

Americans deserve to know the truth about the proposed tax reform packages. There are several myths going around about what the proposed plan would do.

Here are a few of them, and why they’re wrong.

Myth 1: This is just a tax cut for the rich, and it will actually raise taxes for everyone else.

Myth 2: Repealing the individual mandate will raise taxes on the poor, raise insurance premiums, and kill 10,000 people a year.

Myth 3: Corporations and their rich owners will receive a huge windfall.

Myth 4: Tax reform will be bad for seniors.

Myth 5: Tax reform won’t grow the economy, it will only add to the debt.

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