Seriously, Paul Ryan? While mega corporations are seeing millions of dollars in tax cuts from the GOP’s heavily-criticized tax plan, House Speaker Paul Ryan is bragging about middle-class workers seeing an extra $1.50 a week on their paychecks.
In a tweet posted on Saturday morning (that has since been deleted), Ryan told a story of a “secretary at a public high school” that was “pleasantly surprised her pay went up $1.50 a week.” This is a whopping $78 a year in savings.
People on twitter immediately jumped on Ryan, asking him basic math questions to show the outrageousness of his statement:
$1.50 x 52 weeks = $78 over the year
$1.46 trillion (cost of tax bill) / 327 million in US / 10 year score = $446 (without interest) https://t.co/MaeOil2NLj
— Zach Moller📊📉 (@econwonk) February 3, 2018
The GOP just passed a tax bill transferring $1.5 TRILLION in wealth from the middle class to billionaires.
And Paul Ryan brags that somebody’s pay went up $1.50…. per WEEK… pic.twitter.com/H6o3EOoWEB
— Luisa Haynes (@wokeluisa) February 3, 2018
The GOP tax plan, signed into law at the end of 2017, will give corporations a major tax cut, lowering their rate from 35 to 21 percent. Individual tax cuts, which are much less impressive, will expire in 2025, ending any benefits taxpayers will initially see.
This means that Costco will save $520 million per year, or $5.2 billion over the next 10 years, calculated from their tax payment of $1.3 billion on $3.7 billion in earnings from two years ago. But $78 a year, or $624 total over ten years, for a middle class worker is definitely something to brag about.
Meanwhile, the tax bill will cost America $1.5 trillion.
After receiving backlash for the Tweet, Ryan deleted it.
House Speaker Paul Ryan tweets then deletes an obviously odd tweet celebrating a wage raise of $1.50/week. Doesn’t even cover a Starbucks refill. pic.twitter.com/xwwFmN98cI
— Joyce Karam (@Joyce_Karam) February 3, 2018
I actually thought this had to be a Paul Ryan parody account https://t.co/ncAK7HDpul
— Ellen Stark (@ellenstark) February 3, 2018