This is more than 75 percent of all the tax cuts in the plan. For every provision in the Republican plan which might help the middle class, Republicans take away other middle-class tax benefits, and many see their taxes go up. For years, Republicans have been saying that they have to cut programs like Medicare and education because of the deficit, but now that they plan to pass a tax bill, trillion-dollar deficits no longer matter.
History proves it: trickle-down economics failed in the s, it failed under President George W. The nonpartisan Tax Policy Center provided a preliminary analysis of the Republican Tax Framework, and the results were alarming.
Once the tax plan is fully phased in by , the wealthy get a huge tax cut, and many middle-class families actually see a tax increase. This is not a middle-class tax cut, and many working families will see their taxes go up. Individuals are paying more so big corporations, wealthy passthroughs, and rich estates can pay less.
Even the level of detail in the Republican plan is telling, and makes Republican priorities clear — the tax cuts for corporations and the wealthy are explicitly spelled out, while the middle-class and low-income families are ignored. Skip to main content. You are here. Here are some of the ways the rich get even richer: 1. Here are some of the ways the rich get even richer: 6.
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