Republicans are very good at choosing names for their agendas that disguise their slimy intentions. The No Child Left Behind Act was hard on students and degraded the American education system. And this year’s GOP tax plan is just as bad for taxpayers. Republicans continue to promise that their tax plan would give the middle-class worker a break. But this is a lie. If you make between $50,000 and $150,000 you’ll likely see a hike in your taxes. Under the Ryan-McConnell tax plan, 30 percent of middle-class Americans will be forced to pay more taxes – while the riches of the rich get a break from paying their dues.
Even American households that earn $150,000 to $300,000 will be hit with higher taxes, the Urban-Bookings Tax Policy Center reports.
Even though Republicans promise their blue-collar and middle-class base a tax break, 80 percent of the tax relief would go to the wealthiest people in the country. Only the top 1 percent of earners would see the benefits of the GOP tax plan.
Don’t let the Republicans spread their lie to people who don’t know better. You must spread the truth about how Trump’s tax plan will eviscerate the middle class.
A Pew Research Center report found that cutting taxes for big business or households that earn $250,000 or more each year was not a popular proposition. Instead, 43 percent of responders wanted high-income households to pay more tax because they’re earner more.
52 percent of responders believe that corporate taxes should be increased – not decreased, as Trump wants.
Although Americans are smart enough to know that cutting taxes on the rich will only benefit the rich, the Republicans continue to spread their lie about their tax plan. The Republicans pretend to be giving the average American a break while raising taxes on the middle class to make the richest Americans even more fruitful.
If the GOP tax plan gets past, the country’s deficit would explode to $2.4 trillion within the first decade.
Republicans didn’t just want to tax average Americans more; they also planned to cap the amount of cash they could contribute to their 401(k) plans. According to TheBalance.com:
“Congress wanted to cap 401(k) contributions at $2,400. That would hurt those 50 and older who can contribute up to $24,000 a year. On October 23, Trump assured workers that the benefit would remain untouched. But the House budget eliminated the deduction. It eliminates the deduction for state and local taxes. That would hurt 40 million people, primarily residents in high-tax states like California and New York. But it would add $1.3 trillion to federal revenues.”
While the average American pays, corporations win big under Trump. This is not fair for the average Americans who keep this country running.
TheBlance.com reports: “lower the maximum corporate tax rate from 35 percent to 20 percent. The United States has one of the highest corporate tax rates in the world. But that doesn’t hurt large corporations. Most of them don’t pay more than 15 percent. That’s because they can afford tax attorneys who help them avoid paying more.”
What do you think they should do about your tax payments?