Saturday, May 14, 2016

Trump’s official tax plan blatantly contradicts his populist rhetoric

Trump’s official tax plan blatantly contradicts his populist rhetoric

"The road map charts the course to really large tax cuts, with the bulk of them going to very-high-income households: At the plan’s core is a mostly-routine Republican tax plan that includes giveaways similar to those intended by Marco Rubio, Jeb Bush, and Ted Cruz. The difference is that the plan throws people off the scent of who it benefits, because it contains some novel (and particularly stupid) detours that make no sense as good policy. When Trump says things like “But the middle class has to be protected. The rich is probably going to end up paying more,” one might come away with the idea that this is a middle-class focused tax cut. The guts of Trump’s tax proposal, however, reveal how obvious of a giveaway to the already-rich it is. To get an idea of just how much money is being doled out, the Tax Policy Center (TPC) estimates that Trump’s plan would cost about $9.5 trillion over a decade."

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