Speaker of the House and Republican establishment favorite Paul Ryan was forced to withdraw a tweet over the weekend. Ryan bragged on Twitter about how his tax policies delivered a “whopping” $1.50 weekly savings to a school secretary. Such a pay bump, Ryan relayed, would pay for her Costco membership.
$1.50 per week breaks out to $78 per year. I suspect most of us would greatly appreciate an extra 80 bucks in our pockets right now. However, broken out over a year, that won’t be anything near a life-changing amount for most Americans. $80 equals less than a percent of the yearly poverty line. A school secretary, meanwhile, will likely be earning three or more times the poverty line.
“A secretary at a public high school in Lancaster, PA, said she was pleasantly surprised her pay went up $1.50 a week… she said [that] will more than cover her Costco membership for the year.” – Ryan’s now- deleted Tweet
Opponents took Ryan’s apparent gaffe as an opportunity for blasting him for being out of touch. For the average American family trying to pay for their mortgage, food, healthcare, and other costs, $80 bucks won’t go far. Ryan’s comments could be seen as tone deaf, failing to understand the actual plight of working-class Americans. A few bucks a month, quite simply, won’t make much of a difference.
(Credit: Facebook/Andy Borowitz)
Ryan, should he choose to run for reelection in 2018, will face a decidedly difficult race. Democratic challenger Randy Bryce has strummed up a lot of support owing to a viral video and populist-style campaign. Citing an internal poll, Bryce claims he’s behind in the race by only 6 percent.
Randy Bryce, Army veteran and Democrat incumbent running against Speaker of the House Paul Ryan. (Credit: Randy Bryce)
Of course, as Hillary Clinton found out, there’s a lot of risks when trusting internal polls. They often tell you what you want to hear rather than what you should hear. Regardless, rumors have circulated that Ryan will not run for reelection in 2018. With the congressional races heating up, Ryan will have to make a decision shortly.
At least 31 Congressional Republicans won’t seek reelection in 2018. This is up substantially from the usual 22 or so Republicans who decide to retire from Congress. Interestingly, many of those retiring are in the prime of their career.
Ryan’s Tax Benefit Will Benefit Many, But Some More So Than Others
Approximately 80 percent of American households will receive a tax cut this year. However, some experts are already warning that the tax bills for many American families will rise later on down the road. Further, many analysts argue that the tax cuts will predominantly and disproportionately favor the rich.
In truth, the tax code is immensely complex and will create winners and losers within each tax bracket. For example, many of those within the top 1/10th of a percent bracket will see their taxes cut, but approximately 16.2% will see their rates increase. Further, individual tax cuts will expire in 2025 unless re-extended.
Some of the biggest winners weren’t human at all, but instead corporations. The corporate tax rate will be cut to a flat 21 percent, down from the top rate of 38.91 percent previously. However, it should be noted that in practice many large corporations were able to lower their taxes to under 20 percent, while smaller businesses often struggle to effectively cut their tax bill down.
