An outline of the Republican Tax Plan is out, and Republican’s claim that it’s a middle class tax cut that will pay for itself and does virtually nothing to help the rich. Of course, like Republican claims about the RepubliCare fiasco, the truth and Republican claims about it could not be further apart.
The tax plan that the Trump administration outlined on Wednesday is a potentially huge windfall for the wealthiest Americans. It would not directly benefit the bottom third of the population. As for the middle class, the benefits appear to be modest.
The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity. President Trump said on Wednesday that the cuts would increase investment and spur growth, creating broader prosperity. But experts say the upside is limited, not least because the economy is already expanding.
The plan would also benefit Mr. Trump and other affluent Americans by eliminating the estate tax, which affects just a few thousand uber-wealthy families each year, and the alternative minimum tax, a safety net designed to prevent tax avoidance… [emphasis added]
Inserted from <NY Times>
The Gray Lady is being far too generous when they speak of modest gains for the middle class. In fact a couple with two kids earning $79,000 a year would pay MORE under this Republican welfare for billionaires package.
Lawrence O’Donnell discussed the plan with Bruce Bartlett and David Cay Johnston.
Here’s the bottom line. Republicans plan to take YOUR money and give it to billionaires. It must not pass!
RESIST THE REPUBLICAN REICH!!
8 Responses to “The Republican Tax Plan”
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Where’s Gandalf when you need him? IT SHALL NOT PASS!!!
Yep, the rich get richer, while the poor get poorer! ugh!!
Well, of course! For whom WOULD Trump cut taxes, except for the Trumps? Trumps by blood, or Trumps by resemblance, whatever.
Different day, same BS! While at the gym, I saw Faux News headline referring to Reagan’s tax plan, another piece of BS.
Anyone who expects Trump to do anything that does not benefit him directly is a fool.
YOWSER!!! What a bunch of BS! The only thing that Drumpf is interested in is himself, his family and his businesses.
Resist, Persist and Remove!!!
At the beginning of his term, the GOP and Drumpf talked about tax reform, the best ever. Now that most everything they’ve openly tried to pass in Congress has failed, and the deadline their Corporate masters have given them is nearing, they’re back to a tax plan, in other words tax cuts. Of course it was never going to be any more than that: tax cuts for the filthy rich at the cost of everyone else: pearls before swine.
Kudos to Lona.
Thanks, hugs, and amen to all!