Posted on 11/25/2016 9:12:57 PM PST by Freedom'sWorthIt
WASHINGTON — 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.
(Excerpt) Read more at wral.com ...
Barf alert - expect this is left wing bogus puff.
One key - "But Lily Batchelder, a visiting fellow at the Tax Policy Center and former deputy director of President Barack Obama's National Economic Council, estimates that roughly 7.9 million families with children would pay higher taxes under his proposals. About 5.8 million are led by single parents. An additional 2.1 million are married couples."
“...Trump’s plan to eliminate the personal exemption and the head-of-household filing status.”
That would be long overdue.
But will it cause middle class taxes to go up? If so, how is that a good thing?
“But will it cause middle class taxes to go up? If so, how is that a good thing?”
The most important thing we need to do is to pay down the debt and that, coupled with tax-cuts-for upper income Americans would lead to more revenue to the federal government and begin to pay down debt.
TPC is funded by individuals, corporations, trade groups, and foundations including the Ford Foundation, the Bill and Melinda Gates Foundation, and the Rockefeller Foundation.[21]
Amen to that.
And THERE we have it, folks.
Totally biased, nonsensical BS.
The rich aren't going to receive a "windfall".
Those of us who pay the bulk of all income taxes will be "allowed" to keep more of OUR OWN goddamn money.
Isn't that SOOOO generous?
I'm in the top half of income tax payers, making more than 35K per year, which amounts to 95% of all taxes paid.
Why the hell doesn't everyone contribute?
I sure as $hit don't use 95% of road maintenance and police services costs, let alone welfare.
But for those of you who do, you're welcome.
Glad you can skate on the "freebies" I'm paying for.
Trump's plan will likely evolve during congressional negotiations before it becomes law.The Head of Household designation is helpful for people who have children or disabled dependents."This is not anywhere close to a final plan," Williams said.
The EIC needs to be looked at very carefully. It gives a lot of money to those that pay no taxes.
Many are not even citizens of the USA.
That's not relevant. You racist!
But the article is talking about the top 1%. There's a difference.
All i know is that the taxfoundationdotorg indicated on their website that Trump’s plan “Increases the standard deduction from $6,300 to $15,000 for singles and from $12,600 to $30,000 for married couples filing jointly.” This makes me very happy. I make about 50,000 a year gross and I will pay considerably less taxes.
Go to their site and make sure you are looking at Trump’s tax plan from this year and not last year when he announced his tax plan. It has changed quite a bit.
The simple reason why taxes go up is because wages/incomes go up. That’s probably an inconvenient truth.
Thanks very much for that tip.
I just so hope I don’t regret voting for Trump. I do not regret voting for McCain or Romney.
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MORE Fake News... HEHHEH
Politicians cut taxes, but not the debt.
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