Q: I've heard people say the Republican health care bill is really a tax cut for the rich. Who really benefits in exchange for millions of people losing health insurance?

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Q: I've heard people say the Republican health care bill is really a tax cut for the rich. Who really benefits in exchange for millions of people losing health insurance?

A: The Tax Policy Center modeled out the House version of the bill. People in the top 0.1% of income would get 23% of the tax cut dollars. That's about 120,000 households, each making more than $4 million a year, getting an average tax cut of $207,240 (they'd have average after-tax income of $8.1 million/year). The average tax cut to the top 1% of income earners would be $37,230 (they'd have average after-tax income of $1.8 million/year). That's a lot of numbers, so here's a chart (see above.)

- originally published in the 7/10/2017 newsletter

Stephanie Lee