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"The idea that this plan would help average Americans instead of the wealthy and big corporations has been a hoax all along," said Frank Clemente, executive director of Americans for Tax Fairness (ATF), which on Tuesday released an analysis showing that Trump's plan would likely leave a $5 trillion hole in the federal budget over the next ten years.
"This isn't 'tax reform,’ it’s just a big giveaway to millionaires and corporations, and it won’t ‘trickle down’ to the rest of us," Clemente said.
"It won’t help small businesses, but it will help Wall Street hedge fund managers and real estate moguls like Donald Trump.
This plan will not lead to robust job creation or economic growth, but its eye-popping cost will lead to deep cuts in Social Security, Medicaid, Medicare, and public education that will leave working families in the cold."
originally posted by: IAMTAT
Well, if you can't trust
'Common Dreams: Breaking News & Views For The Progressive Community'
for an unbiased political assessment...
Who CAN you trust?
originally posted by: dothedew
a reply to: FyreByrd
I'm taking everything with a grain of salt these days.
For the past..... hell, since I was born, i have yet to see an analyst correctly project anything even close to real world numbers in regard to any taxes, bills, or costs being claimed.
The analysts on Obamas plans, Bush's plans, Clinton's, etc., have all been waayyy off base...... If you ask me, they're full of just as much BS as the people trying to pass said bills.
In the long run it doesn't matter though, nothing will pass anyway
originally posted by: seasonal
a reply to: FyreByrd
Flat tax, no exceptions no exemptions.
The top cries, the bottom cries and the middle class gets a tax cut.
originally posted by: ketsuko
a reply to: Aazadan
Since those things now make my top tax rate less strangling, I think I'd actually do better to take the tax rate shave with the loss of deduction.
originally posted by: Gandalf77
a reply to: face23785
They haven't been very specific about what exemptions they intend to take away, though.
They've already acknowledged a few sacred cows--mortgage interest, for example.
And given the threshold where it kicks in, cutting the estate tax sure seems like a giveaway to the rich.