{"id":1301,"date":"2017-04-27T21:05:00","date_gmt":"2017-04-27T21:05:00","guid":{"rendered":"http:\/\/democrats.org\/blog\/2017\/04\/27\/the-verdict-is-in-trumps-tax-plan-a-handout-to-corporations-slap-in-the-face-to-middle-class\/"},"modified":"2017-04-27T21:05:00","modified_gmt":"2017-04-27T21:05:00","slug":"the-verdict-is-in-trumps-tax-plan-a-handout-to-corporations-slap-in-the-face-to-middle-class","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/the-verdict-is-in-trumps-tax-plan-a-handout-to-corporations-slap-in-the-face-to-middle-class\/","title":{"rendered":"The Verdict Is In: Trump\u2019s Tax Plan A Handout To Corporations, Slap In The Face To Middle Class"},"content":{"rendered":"

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While it may be completely lacking in details, Trump’s new tax “plan” should worry working Americans. Media analysis in the past day confirms that it is nothing more than a giveaway to the richest Americans and largest corporations. White House officials are running<\/span><\/a><\/span> for the hills<\/span><\/a><\/span> when pressed on whether the plan will jack up taxes for the middle class.<\/span><\/p>\n

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Upon examination, the only innovation between Trump’s campaign tax plan and this new one is that it’s now formatted in bullet points. No joke.<\/span><\/a><\/span><\/span><\/p>\n

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Here’s what we’ve discovered so far about Trump’s proposal:<\/span><\/p>\n

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1.      Trump is expanding giveaways to billionaires and still not helping working families.<\/span><\/b><\/p>\n

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New York Times<\/span><\/a>: “Winners And Losers In The Trump Tax Plan.”<\/span><\/b><\/p>\n

“Winners<\/b>: Businesses with high tax rates…High-income earners…People with creative accountants…Multimillionaires who want to pass money to their heirs tax-free…Donald J. Trump<\/b>.”<\/span><\/p>\n

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New York Times Editorial<\/span><\/b><\/a>: “President Trump’s Laughable Plan to Cut His Own Taxes.”<\/span><\/p>\n

“Regardless of the plan’s fate, Mr. Trump has already sent a strong message about where his sympathies really lie<\/b>. They lie not with the working people who elected him, but with the plutocracy that envelops him<\/b>.”<\/span><\/p>\n

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Vox<\/span><\/a>: <\/span><\/b>“The plan does raise revenue in a few ways, mainly by eliminating almost all personal deductions and exemptions, such as student loan payments and property tax deductions<\/b>.”<\/span><\/p>\n

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ABC News<\/span><\/a><\/span><\/b>: “Treasury Secretary Steve Mnuchin can't guarantee middle class wouldn't pay more under tax plan<\/b>”<\/span><\/p>\n

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2.     Trump’s budget-busting plan gives big tax cuts to corporations.<\/span><\/b><\/p>\n

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<\/a>Vox<\/span><\/a>: <\/span><\/b>“<\/span>The White House plan doesn’t give any indication on how it expects to fill the as much as $7 trillion-plus hole<\/b> that some experts say his plan could open up in the federal budget over the course of a decade.”<\/span><\/p>\n

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Reuters<\/span><\/a>: <\/span><\/b>“President Donald Trump unveiled a one-page plan on Wednesday proposing deep U.S. tax cuts, many for businesses, that would make the federal deficit balloon if enacted<\/b>.”<\/span><\/p>\n

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Wall Street Journal<\/span><\/b><\/a><\/span>: <\/span><\/b>“Trump Tax Plan Likely To Help Real Estate Sector.” <\/b><\/span><\/p>\n

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3.     Trump’s proposal will give huge rewards to the top 1%<\/span><\/b><\/p>\n

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Vox<\/span><\/a>:<\/span><\/b> “Trump is also sticking to his decision to lower the tax rate for owner-operated businesses, known as pass-throughs, from 39.6 to 15 percent…Such reductions would also be a major benefit for Trump, as most of his businesses are pass-throughs.”<\/span><\/p>\n

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NBC News<\/span><\/a>: <\/span><\/b>“The proposed changes to deductions could increase taxes for many middle-income and lower-income taxpayers, including single-parent households and families with multiple children.”<\/span><\/p>\n

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Fresno Bee<\/span><\/a> Editorial: “Trump’s ‘Big’ Tax Plan Is A Giveaway To Big Businesses And Billionaires.”<\/span><\/b><\/p>\n

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Time<\/span><\/a>: <\/span><\/b>“There's little question why the plan won a warm welcome on Wall Street.”<\/span><\/p>\n

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Politico<\/span><\/a>: <\/span><\/span><\/b>“At the same time, the plan would get rid of some taxes that mostly hit the wealthy, and likely Trump himself, including the estate tax and the alternative minimum tax<\/b>.”<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

While it may be completely lacking in details, Trump’s new tax “plan” should worry working Americans. Media analysis in the past day confirms that it is nothing more than a giveaway to the richest Americans and largest corporations. White House officials are running for the hills when pressed on whether the plan will jack up <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1301","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nThe Verdict Is In: Trump\u2019s Tax Plan A Handout To Corporations, Slap In The Face To Middle Class - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/the-verdict-is-in-trumps-tax-plan-a-handout-to-corporations-slap-in-the-face-to-middle-class\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-27T21:05:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/the-verdict-is-in-trumps-tax-plan-a-handout-to-corporations-slap-in-the-face-to-middle-class\/\",\"url\":\"https:\/\/democrats.org\/news\/the-verdict-is-in-trumps-tax-plan-a-handout-to-corporations-slap-in-the-face-to-middle-class\/\",\"name\":\"The Verdict Is In: Trump\u2019s Tax Plan A Handout To Corporations, Slap In The Face To Middle Class - 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