Donald Trump Wants to Raise Your Taxes

[riversedge]

Donald Trump Wants to Raise Your Taxes



https://www.nytimes.com/2017/10/29/opinion/trump-raise-taxes.html
David Leonhardt
6-7 minutes
President Trump with Senator Mitch McConnell, the majority leader, as the president visited Capitol Hill last Tuesday to push for his tax plan. J. Scott Applewhite/Associated Press

The old formula for passing a big tax cut for the rich was simple: Package it with a modest tax cut for the middle class — and talk endlessly about the middle-class part.

President Trump and Congress are following the formula in some ways. Their plan would deliver an average tax cut of $700,000 to the nation’s 175,000 richest families. That’s enough for each to buy a new 50-foot yacht, annually. Meanwhile, Trump and other Republican leaders keep repeating “middle class,” “middle class,” “middle class.”

Yet there is also a major difference between the current plan and George W. Bush’s tax cut or Ronald Reagan’s. Trump’s plan would not actually cut taxes for many middle-class families. It would raise them.
Whose Taxes Would Rise?

Share of each income group whose taxes would increase under the Trump plan, both immediately and after a decade.
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[MichMan]

1. Am I missing something here?

According to the charts, a majority of people across all income levels would receive tax cuts. The only income level with less than 75% receiving cuts is the $200k to $500k income level which IMO hardly fits the definition of middle class.

I know my taxes would go down as I only take the standard deduction and have no dependents.

If you want to argue that the wealthy are getting them fine, but just say so instead of drawing conclusions that are not supported by the data in your own article

[lame54]

2. The graph is similar to a middle finger

[Wounded Bear]

3. The fact is that lower and middle income taxes are already cut to the bone...

There just isn't much to take back in income taxes. Of course other taxes have been spiralling out of control since Reagan, but I guess we're not supposed to talk about that according to RW spinmeisters.

The only taxes they can cut to reduce revenues is at the top. It's the tired old budget busting Repub tax plan. Lather, rinse, repeat.