Trump adviser 'can't guarantee' taxes won't go up for middle class

Not a good thing to hear right? All this talk about tax cuts and representing the working man and woman turns out to be baloney as per usual:

President Donald Trump's top economic adviser, Gary Cohn, said today that he can't guarantee that taxes won't go up for some middle-class families under the administration's sweeping tax overhaul.

"There's an exception to every rule," Cohn told ABC News chief anchor George Stephanopoulos in an interview on "Good Morning America."

"I can't guarantee anything," said Cohn, the director of the White House Economic Council. "You can always find a unique family somewhere."

He said Trump's plan is "purely aimed at middle-class families." But Cohn acknowledged that "it depends which state you live in."

abcnews.go.com...

We already know for a fact that Trumps Tax cut plan will benefit the wealthy more financially than the lower classes. Again it's 'trickle down economics'. Cut taxes for the rich and all that money should magically fall down to the bottom. It's a load of BS as per usual and we've seen that over the years. The wealthy often hoard their cash. Money very seldomly trickles down. By logic for wealthy business owners the end goal is to maximize profit and financial gain with minimal loss or expenditure. The wealthy business owner isn't going to automatically use those tax cuts to create more jobs if he can already maximize usage of his current staff. In contrast, you have a tax plan aimed at the working and middle classes, money inevitability gets spent back into the economy. For many though this concept doesn't appear to sink in despite the years of result.



Further:

Today on "GMA," Cohn insisted that the rich will not benefit under the plan. But when asked whether Trump would get a tax cut, Cohn would not say for sure.

abcnews.go.com...

Full of BS as usual from the Trump administration the Congress. Don't expect to see much of a change in your financials in the coming years if you're an average Joe, a working schmuck. The rich will continue to get richer. The lower classes will continue to see their incomes stagnate.

a reply to: Southern Guardian

Healthcare not done---Check
Tax cuts not done------ Check
Wall not built yet--------Check
Hillary's ass unjailed-----Check

Twitter hero and campaign swagger-----Check

Now we come to the reason Trump wanted to be president. Cutting taxes for himself, his family and his rich greedy friends!

Its pigs at the trough squared!

And still his blind followers, who enable this massive con will continue to kiss his rear end as he glibly lies that he won’t benefit from a super corporate tax cut, while he has I think 35 businesses that will be directly affected here.


Trump is laughing at the people who voted for him

One troubling section involves the reduction of itemized deductions. 3 items that are extremely important in keeping taxes down are the ability to write off home mortgage interest expense. For the new home buyer, the payments are almost 100% interest for the first years and these are typically $15 to $20k line items.

Another is educational expenses for sending your kids to school. Over $20 to $40k a year for some families. The other is excess medical expense, in which case if you are older or retired, can amount to huge sums, especially in dental implants and hospital expense. I wonder if these will be exceptions that will still be available to all of us.

People seem to forget every 4 years that it doesn't matter who you vote for the status quo will remain the same. Keep voting! It's bound to work eventually! Right?

originally posted by: seasonal
a reply to: Southern Guardian

Healthcare not done---Check
Tax cuts not done------ Check
Wall not built yet--------Check
Hillary's ass unjailed-----Check

Twitter hero and campaign swagger-----Check

Racist sherrif pardoned -- Check.
Puerto Rico destroyed -- Check.
Supreme Court seat stolen -- Check.

Can this guy verify that taxes will go down on the wealthy?

originally posted by: Thoren
People seem to forget every 4 years that it doesn't matter who you vote for the status quo will remain the same. Keep voting! It's bound to work eventually! Right?

While I'm inclined to agree with you in general, I have never seen this particular level of ridiculousness before.

The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity. President Trump said on Wednesday that the cuts would increase investment and spur growth, creating broader prosperity. But experts say the upside is limited, not least because the economy is already expanding

The plan would also benefit Mr. Trump and other affluent Americans by eliminating the estate tax, which affects just a few thousand uber-wealthy families each year, and the alternative minimum tax, a safety net designed to prevent tax avoidance.
Mr. Trump has also pledged repeatedly that the plan would reduce the taxes paid by middle-class families, but he has not provided enough details to evaluate that claim. While some households would probably get tax cuts, others could end up paying more.

This is so blatant and clear. The two main elements of this tax plan directly aids rich people tremendously.

And hardly any mention of middle class tax cuts--just vague ideas of " helping the middle class"


What do you people need to hear and see to understand the nature of this con man

So he gets a Goldman Sachs guy to talk for him, Gary Cohen, and as the OP says cant promise anything helpful for the little guy


LINK

People seem to forget every 4 years that it doesn't matter who you vote for the status quo will remain the same. Keep voting! It's bound to work eventually! Right?

a reply to: Thoren

100% right. The machine is not going to change for an "outsider" like Trump sold himself as. The machine is laughing at the US voter.

a reply to: Aazadan

In all fairness, Trump did not destroy Puerto R. Bad situation.

Taxes taxes taxes, I wonder if any body here know or remember a president in our modern times that have ever done any tax cuts for the middle class.

originally posted by: marg6043
Taxes taxes taxes, I wonder if any body here know or remember a president in our modern times that have ever done any tax cuts for the middle class.

Dubya.

a reply to: marg6043

Did Bill Clinton?

a reply to: Dudemo5

Ha, Ha, no really, actually most of the presidents after Reagan have followed the famous Reagan trickle down economics.

a reply to: Willtell

I don't think his followers will continue to be blinded. Again, we had no choices; him or Hillary.

You are right; Trump's a dismal failure. Of course, he knew Congress hated him so really he's been shooting blind at everything but can't shut his big, crude mouth.

The middle class was already crumbling and this tax will just whittle them down further. I am starting to believe he will go down as one of the worst presidents. But he sure cares about kneeling by the NFL. What an idiot.

originally posted by: marg6043
a reply to: Dudemo5

Ha, Ha, no really, actually most of the presidents after Reagan have followed the famous Reagan trickle down economics.

I got a check from Dubya. An actual check. Didn't we all?

originally posted by: Justso
a reply to: Willtell

I don't think his followers will continue to be blinded.

Ye have little faith. They will double down, call it fake news, and ultimately cheer on Trump's stunning and braveness

a reply to: Dudemo5

Wasn't it twice? It's been awhile

originally posted by: Dudemo5

originally posted by: marg6043
a reply to: Dudemo5

Ha, Ha, no really, actually most of the presidents after Reagan have followed the famous Reagan trickle down economics.

I got a check from Dubya. An actual check. Didn't we all?

Well, there was also tax relief under Obama for most..thing is, it wasn't in the form of a check, it was just a little bit more in the ole paycheck...this is actually a more sound economic policy as people may save a fat check but will spend a few extra bucks...economy runs on spending, not saving.

Just felt like splitting a hair.