Tag: Trump wealthcare

3 Things You Need to Know About Trump’s Tax Plan

The following was posted on the TrumpAccountable.org website October 5, 2017:

The Trump Tax Plan is gaining steam and momentum even as natural disasters and the horrific events of this weekend in Las Vegas have changed the national dialogue. Here are three things you need to be watching on taxes:

Growth Projections and Deficit – In addition to the disastrous outcome of the Kansas/Brownback tax cut disaster, the Committee for a Responsible Federal Budget argues that there is no way that tax cuts will pay for themselves and that lowering taxes will lead to more deficit spending. “Past tax cuts in 1981 and the early 2000s have led to widening budget deficits and lower revenue, not the reverse as some claim.” Increased deficits represent a significant challenge to the U.S. economy and any tax plans advanced by the Republicans need to help reduce the deficit. Continue reading “3 Things You Need to Know About Trump’s Tax Plan”

Mnuchin dodges on if Trump would benefit from his tax proposal

The following article by Rebecca Savroansky was posted on the Hill website October 1, 2017:

© Keren Carrion

Treasury Secretary Steven Mnuchin on Sunday dodged a question about whether President Trump would get a tax cut under his tax plan.

During an interview on ABC’s “This Week,” Mnuchin was asked whether Trump would benefit from his new tax proposal. Trump has faced the question numerous times since he began to push for the tax code reform, which he claims is not helpful for his own finances. Continue reading “Mnuchin dodges on if Trump would benefit from his tax proposal”

Tax ‘reform’ for the rich: Trump’s plan abandons his working-class supporters

The following article by Prof. Steven Pressman was posted on the Conversation website September 28, 2017:

President Donald Trump heralded his new tax plan as relief for the middle class, revenue-neutral and a “middle-class miracle.”

Yet the proposal, announced on Sept. 27, does none of these things. Instead, it is a scam not fit to become law of the land because it will enrich the rich, explode the deficit and hurt many middle-class Americans. This may sound like strong language, particularly for an economist, but I’m going to show you why this is no exaggeration.

While some details remain up in the air, Trump has proposed three main changes to our tax code. He wants to repeal the estate tax, simplify the individual tax code and slash the rates corporations pay. Let’s consider each in turn. Continue reading “Tax ‘reform’ for the rich: Trump’s plan abandons his working-class supporters”