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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFor some in middle class, Trump plan would mean tax increase
President-elect Donald Trump's proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families including a majority of single-parent households the opposite would occur: They'd pay more.
Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center found. And while middle-class families as a whole would receive tax cuts of about 2 percent, they'd be dwarfed by the windfalls averaging 13.5 percent for America's richest 1 percent.
Trump's campaign rhetoric had promoted the benefits of his proposals for middle-income Americans.
"The largest tax reductions are for the middle class," said Trump's "Contract With the American Voter," released last month.
https://www.yahoo.com/news/middle-class-trump-plan-mean-tax-increase-153628510--finance.html
BSdetect
(8,998 posts)Then go bankrupt again. Then drumph can move in to gain from the foreclosings etc, again.
Yes, the rich will get richer again. Seen the stock market over the last week or so?
Its the American financial roller coaster.
this was buried under a lot of news when it should have gotten more traction.
JustAnotherGen
(31,828 posts)People need to be prepared.
Yo_Mama_Been_Loggin
(108,010 posts)The vast majority of it goes to the top 1%
etherealtruth
(22,165 posts)Under his plan (as a single parent "head of a household" I would likely be responsible for somewhere around $2,500 per year more in taxes ... the galling part is that my tax burden would not increase to fund social, medical science programs ... I (and others like me) will pay more so the top 5% can see less of a tax burden ...?