What a coincidence! Now it’s perfectly clear which party will dominate in November.
President Trump’s tax cuts have benefitted Americans up and down the economic scale, particularly the middle class. These earners have seen the largest reduction in taxes paid: up to a 56 percent tax cut for some people.
According to the Democrats however, the tax cuts have only benefitted Trump and his buddies in the top 1{75726800c12fe2ebed14402fd98444a61f7eda42751f92330bc58faf20bd8821}. It’s all bad news for them.
The latest Republican tax plan banks on America wanting more cuts as we approach the midterms. The Democrat tax plan, on the other hand, wants to reverse course and provide some “balance.”
Rep. Kevin Brady (R-TX), chairman of the House Committee on Ways and Means, outlined the Right’s plan to make small business tax cuts permanent. Liberals also released their plan to “close loopholes” and “help the little guy.”
From The Daily Caller:
“With this framework, we are taking the first step to change the culture in Washington D.C. where tax reform only happens once a generation,” Brady said, according to a Tuesday press release. “We plan to work off this framework to build on the growing successes of the Tax Cuts and Jobs Act and ensure this energized economy continues moving forward.”
The Congressional Progressive Caucus released its “People’s Budget” Tuesday. The budget plan includes closing “wasteful corporate tax loopholes that cost billions of dollars,” “taxes [on] Wall Street to fund Main Street,” and a plan to tax investments at the same rate as income taxes.
The People’s Budget plan would also raise taxes on the wealthiest Americas — to 45 percent for the bracket $1 million to $10 million, and up to 49 percent for over a billion dollars. “Additional revenue can be raised by curbing new tax benefits under the Republican tax scam and limiting the value of deductions for high-income taxpayers,” the plan says.
The Democratic Party’s “People’s Budget” wants to raise taxes on “high income earners”, but by their standards, this applies to anyone who has a job.
Democrats are always coming for your money and control over your life, and they won’t stop until they have it all. Their ultimate goal is to centrally plan the entire economy, and give you an allowance to live on based upon your political persuasions.
Source: Daily Caller
