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Donald Trump Wants to Raise Your Taxes
Source:
nytimes.com
- Oct 30, 2017
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.
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Category: General Business
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