Trump’s Tax Plan Benefits “Super Rich” while Middle-Class Miracle is a “Figment of His Imagination”
September 29, 2017
The reviews are in for Trump’s tax plan.
Trump’s tax plan is tax cuts for the “super-rich.”
“There’s a clear and substantial benefit for people of super wealth: the proposal to eliminate the estate tax…Those super-rich would be off the hook.” – AP Fact Check
For Trump, it’s a billion-dollar windfall.
“President Trump could cut his tax bills by more than $1.1 billion, including saving tens of millions of dollars in a single year, under his proposed tax changes.” – New York Times
“We can identify at least one taxpayer who will hugely benefit from the proposal: President Donald Trump.” – Vox
“I’m starting to wonder if the only reason he ran for president was to lower his own taxes.” – Trevor Noah
For regular people, it would mean very little.
“It would not directly benefit the bottom third of the population.” – New York Times
“Many Trump Voters Will Get Zero From Republican Tax ‘Framework” – USA Today Editorial Board
“Even White House officials… were unable to promise it will not add to their tax burden, and they certainly weren’t able to promise it will significantly reduce their taxes.” – CBS News
Trump and Republicans can’t find a way to pay for it. Trump doesn’t seem to mind.
“One thing seems pretty clear to most economists: It will increase the federal government’s budget deficits.” –Bloomberg
“Analysts say the government would have to help pay for the tax cut by slashing programs that serve the middle class. Or it would be forced to run the national debt up to dangerous levels, likely driving up borrowing rates for consumers and businesses.” – CNBC
“Mr. Trump, who has called himself ‘the king of debt,’ may be setting the tone.” – New York Times