The tax plan that Trump and the Republicans are trying to sell as great for the middle-class is a fraud. While the tax cuts for the very wealthy and largest corporations are permanent, the middle-class tax cuts expire after five years.
Here is how the Republican plan would impact a middle-class family:
I recommend reading your tax plan. Those tax cuts expire after 5 years, raising taxes on that same family. pic.twitter.com/Zybfxfnsw8
— Jeremy Slevin (@jeremyslevin) November 3, 2017(Continued Below)
Trump and his family get a permanent tax cut that extends to even beyond death due to the repeal of the Estate Tax, but middle-class family gets a sham tax cut that actually raises their taxes after a few years.
The Republican tax cut plan is a scam that is designed to redistribute resources from the middle and bottom up to the very top. Once the wealthy and corporations have all the wealth in the country, they are supposed to benevolently allow the money to trickle down to everyone else. Of course, this isn’t how it really works. The people and corporations at the top take the money and either save it or invest it in the stock market. They don’t use the money to expand the economy. They put the cash in their back pockets and move on.
The intentions of this tax bill can be best understood by looking at who gets to keep their tax cuts forever. The tax cuts are a con that would harm the vast majority of the country, which is why this bill must be stopped at all costs.