Trump plan would mean middle class tax increase

Trump plan would mean middle class tax increase
By Christopher R Rice

EDITORS NOTE: Told ya' so

People that voted for Trump will find out after a while. Hey, I didn't care for either candidate so don't throw me into the Hillary camp either but Trump, what a BS artist this guy is. All his campaign promises were just pillow talk. Now get ready to take it hard and dry!

Actually he means to dramatically increase hidden taxes on middle/poor, because of the tax cuts for the rich and corporations (his own of course), increase government and increase government spending, that means middle/poor are stuck with the tab. History proves this over and over and over.

This isn't surprising. People who thought Trump would help them out are going to be very wrong. The rich will get richer. The poor will get poorer.

Nearly 8 million families — including a majority of single-parent households — will 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.

DONALD TRUMP, the LIAR-in-CHIEF, is the KING of FLIP-FLOP: 1) Endorsed the 'birther movement' by accusing President Obama of being born in Kenya but later admitted that Obama's birth certificate was genuine. 2) Promised to erect a wall along the U.S./Mexico border and make Mexico pay for it but later clarified that the "Wall" will really be more like a fence. 3) Promised to deport millions of undocumented immigrants with NO exceptions but later stated that he would look at these people on a case-by-case basis and even noted that some of those immigrants are “terrific people.” 4) Trump railed against the lobbyists and special-interest groups that dominate Washington during his campaign, but has already added a number of lobbyists to his transition team. 5) Promised to appoint a special prosecutor to put Hillary Clinton in jail if he won the election but later softened his stance and showed sympathy for the Clintons by saying “I don’t want to hurt them. They’re good people.” 6) Promised to support the traditional family marriage but later stated that he’s not planning to oppose gay marriage in the courts. 7) Vehemently denounced the Electoral College as a threat to democracy but later added in defense of the electoral college: “There’s a reason for doing this, because it brings all the states into play. And there’s something very good about that. I do respect the system.” 8) Vow to suspend Muslim immigration via vetting process and registry but then retracted and stated that they will not have a registry based on a religion. What issues will the FRAUD-Elect flip-flop on next?

The tax hikes that would hit single parents and large families would result from Trump's plan to eliminate the personal exemption and the head-of-household filing status. These features of the tax code have enabled many Americans to reduce their taxable income.

His other proposed tax changes would benefit middle- and lower-income Americans. But they wouldn't be enough to offset those modifications.
"If you're a low- or moderate-income single parent, you're going to get hurt," said Bob Williams, a fellow at the Tax Policy Center.

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.

Other analysts, including economists at the conservative Tax Foundation and right-of-center American Enterprise Institute, have agreed with Batchelder's conclusions.

Trump's plan would more than double the standard deduction to $15,000. But that change would be outweighed by his elimination of personal exemptions and head-of-household status. So the family's taxable income would be $60,000, and their tax bill would be $2,440 more than it is now.

By contrast, the wealthiest 1 percent — those earning over $700,000 — would enjoy a tax cut averaging nearly $215,000, boosting their after-tax incomes 13.5 percent. And the richest 0.1 percent — those making above $3.7 million — would receive a bonanza: An average tax cut exceeding $1 million.





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