{"id":29629,"date":"2017-09-28T13:11:29","date_gmt":"2017-09-28T20:11:29","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=29629"},"modified":"2017-09-28T13:11:29","modified_gmt":"2017-09-28T20:11:29","slug":"the-republican-tax-plan","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2017\/09\/28\/the-republican-tax-plan\/","title":{"rendered":"The Republican Tax Plan"},"content":{"rendered":"

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.<\/font><\/p>\n

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\"0928rumpGreed\"<\/p>\n

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.<\/p>\n

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.<\/p>\n

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<\/strong>… [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <NY Times<\/a>><\/font><\/p>\n

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.<\/font><\/p>\n

Lawrence O’Donnell<\/a> discussed the plan with Bruce Bartlett and David Cay Johnston.<\/font><\/p>\n