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The Republican Tax Plan is like a dead fish in the summer sun — the longer it sits around the more it stinks. Who knew that giving permanent Tax-breaks to Corporate-persons and Millionaires would be the exact opposite of helping working people?
Well the scores keep coming in on the Trump-GOP Tax Plan, and it seems it’s not all it’s hyped-up to be:
• Over HALF of Americans will eventually see their Taxes go UP under their plan.
• Only 1 in 42 Economists (around 2%) say the Plan with increase economic growth significantly.
• One study found that the Tax will do great harm to the Deficit.
as just reported by …
The GOP tax plan got a triple whammy of brutal reviews
by Bob Bryan , BusinessInsider.com — Nov. 23, 2017
Urban Institute and Brookings Institution's Tax Policy Center :
[...]
— People in the top 1% of incomes, more than $750,000 a year, would see a cut of $34,130, on average, and receive 17.6% of the bill's total benefit.
— In 2027: The bill's proposed sunset of the individual tax cuts [...] The average cut for all Americans would be just $300, and 50.3% of American households would actually see their taxes increase by this point.
[...]
But according to the IGM Forum survey of 42 academic economists by the University of Chicago's Booth School of Business, only one economist agreed that "US GDP will be substantially higher a decade from now" than under the current baseline. In fact, 52% disagreed or strongly disagreed that the bill would lead to significant economic growth, and 36% were uncertain.
[...]
The Penn [-Wharton Budget] model found that the bill would increase the federal deficit by $1.327 trillion over the first 10 years after it becomes law (not including debt-service costs). Even when factoring in the economic boost from the tax cuts, according to the report, the bill would still add $1.271 trillion in debt.
And if the Deficit goes up with the GOP pay-back their Benefactors scheme, take a guess what other Worker-benefit programs will soon end up paying-for this Republican avarice? The Social Security, Medicare, Medicaid programs have always been at the top of the GOP “must cut” list — all they needed is a big enough Deficit hammer to slam those cuts through, under the pretext of “fiscal responsibility”.
You know what would really be “fiscally responsible”? NOT increasing the Deficit in the first place — like they are trying to do now, without “regular order”, without the objective scrutiny of the ‘light of day’.
No wonder the GOP Tax-Heist promoters are trying to ‘push’ their bait-and-switch scam through Congress SO Fast — because they don’t want to give objective Agencies the time to Score it. And they don’t want to give the American people a chance to comprehend its long-run ramifications.
They don’t want to give you time NOW to figure out, that under their plan: the Top 1 percent of earners (750K+) will be receiving an average Tax Break now 40 Times as large, as the average Tax Break of middle income earners (the 50 to 85K income range) — even though $750,000 is only 12 Times as large as $65,000. Something’s ‘fishy’ about that.
What gives? Heck the Tax Break that the Top 1 percent gets under their plan: $34,130
— is more that many lower-income Americans even make in year of toiling labors. And is 40 times more than the temporary Tax Cut that middle income earners will on average get next year: $850
(according to the Scores from the non-partisan Urban Institute and Brookings Institution's Tax Policy Center.)
…
Maybe Leona Helmsley a once-member of the 1 Percent, was right:
"We don't pay taxes; Only the little people pay taxes.”
You know, something about this Trump Tax Plan really stinks … well actually many ‘somethings’ …
Bye-bye Social Security, bye-bye Medicare, Medicaid; Bye-bye Health Care.
All thanks to the GOP, making America ‘Thrive’ again. (That would be the Top 1% of America.)