President Donald Trump is being exposed as a fraud as Americans learn the details of his proposed tax reform plan.
Experts say families exactly like Trump’s will be the ones who benefit most if the GOP tax plan is signed into law. In fact, one analysis shows Trump’s children could benefit from up to $4 billion in tax cuts under Trump’s proposal!
The most infuriating part of all of this is that Trump is pushing for tax cuts for the wealthy at the same time as he’s proposing massive cuts to programs for poor and middle-class families.
The plan is still a boon for the rich. … Trump would repeal the estate tax, which is levied on the inheritances of the wealthy. The richest 10 percent of taxpayers are projected to pay 90 percent of estate taxes this year, according to the nonpartisan Tax Policy Center.
Trump would also repeal a fee on wealthy taxpayers’ investments imposed as part of President Obama’s health-care legislation, also known as Obamacare. Most economists believe that reducing the rate on corporate income to 15 percent would mainly benefit those who own stock in those corporations, who tend to be richer.
The Trump administration has so far only released limited details about its tax plan, but the basics do not look good. The majority of the cuts are targeted at the top 1 percent of taxpayers.
In other words, this proposal is set up to benefit families exactly like Trump’s – not everyday Americans.
Read more, from the Washington Post:
In all, Trump has so far proposed minor changes to his plan from the campaign. The Tax Policy Center forecast that 51 percent of the benefits from that plan would eventually accrue to the wealthiest 1 percent of taxpayers.
Americans are understandably outraged about these facts – over and over again, Trump has put in place plans that benefit the wealthy and we are getting sick of it.
President Trump’s tax plans, which includes repealing the Estate Tax would be a major windfall for the Trump children. They could get a tax benefit of up to $4 billion! This while at least 24 million American citizens face losing their basic health insurance coverage.
… Since millions of working citizens are facing the horror of possibly losing their healthcare insurance, President Trump is planning on providing his children with a $4 billion tax cut.
Trump has gone too far and he’s about to get exactly what he deserves – voters are not going to forget about this!