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Even though White House economic adviser Gary Cohn told ABC this week — a fake story:
"Wealthy Americans are not getting a tax cut,"
… the cold hard facts tell a decidedly different story:
Trump Tax Plan a Boon for the 1 Percent, New Analysis Finds
by Jonathan Allen, www.nbsnews.com — Sep 29 2017
The top 1 percent of earners would reap the lion's share of benefits under a new tax cut proposal unveiled by President Donald Trump and congressional Republicans this week, according to analysis by the non-partisan Tax Policy Center released Friday.
[...] the top 1 percent would see their after-tax income rise by 8.5 percent in 2018 and 8.7 percent in 2027, the analysis shows. Benefits for the bottom four-fifths of earners would range from five-tenths of a percent to 1.2 percent in 2018 and from two-tenths of a percent to four-tenths of a percent in 2027, the study found.
[...]
In that final year, 80 percent of all benefits would go to the top 1 percent, and taxes would rise for some upper middle class families — many of those making roughly $150,000 to $300,000 per year — because of the plan's repeal of itemized deductions.
The Wealthy would see an 8.5% increase in income vs 0.5 to 1.2% for everyone else, in 2018.
The Wealthy would see an 8.7% increase in income vs 0.4% for everyone else, in 2027 when the Trump plan finally ‘sunsets’.
If that doesn’t qualify as being branded as “Trump-care — Welfare for the Wealthy” — I don’t know what does.
Even if, Trump’s economic advisors have an entirely different story to tell to sell.
Senator Sanders talks to CNN’s Jake Tapper about this Tax Plan Analysis, among other things.