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Trump’s tax breaks for the rich won’t trickle down to help working Americans | Steven Greenhouse

If the president is serious about creating good, middle-class jobs, spending on infrastructure would..

By admin , in Money , at November 22, 2017

If the president is serious about creating good, middle-class jobs, spending on infrastructure would be far more effective than helping the already very comfortable

It’s time to drive a stake through the heart of President Trump’s and Republicans’ misleading assertion that their tax cuts are for the middle class and for workers. These tax cuts are overwhelmingly designed to help the rich, to further comfort the already very comfortable.

If the tax plan were truly a plan for the middle class and not a plan for the rich, it wouldn’t lavish nearly as many benefits on the wealthiest Americans: phasing out the estate tax, eliminating the alternative minimum tax, cutting the business pass-through tax rate. The Trump-GOP plan would also chop the corporate income tax rate from 35% to 20% – a move that heavily favors affluent people because they own a disproportionate share of corporate stocks.

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