Trump’s tax plan is a scam

Published 11:24 am Friday, October 27, 2017

Donald Trump and his Congressional Republican accomplices are attempting to deceive the American people with a series of lies about their disastrous “tax reform” plan.

Trump has claimed that his plan would not benefit the wealthy. This is clearly a lie.

Many analyses by nonpartisan tax policy experts, including the Tax Policy Center, the Economic Policy Institute, and Americans for Tax Fairness, have thoroughly debunked this claim. The reports by each of these organizations clearly demonstrate that Trump’s plan would primarily benefit very wealthy people.

Trump has also claimed that his plan would primarily benefit the middle class. This is clearly not true.

The Tax Policy Center found that households in the middle of the income distribution would receive an average tax cut of around $260, or 0.5 percent of after-tax income. Many lower middle-class taxpayers would actually see their taxes increase rather than decrease.

A cornerstone of the Trump tax plan is a drastic reduction of the corporate tax rate, from 35 percent to 20 percent. A recent report from Trump’s Council of Economic Advisers claimed that this corporate tax cut would increase the average worker’s pay by $4,000 to $9,000 a year.

Many economists have demonstrated that this is a totally bogus claim. The nonpartisan Center on Budget and Policy Priorities stated that: “The evidence indicates that the bulk of the benefits from a corporate rate cut will go to those at the top, with only a small share flowing to low-and-moderate income working families.”

The report also demonstrates that a corporate tax cut that increases the federal deficit, as the Trump plan surely would, is very likely to harm middle class families.

Trump’s tax plan is a giveaway to the rich. It will not benefit middle class individuals or families, and may very well cause them harm.

Please contact Congressman Fred Upton and demand that he stop supporting this destructive, discriminatory, deceitful scam.

Larry Feldman

Lakeside