Middle Class Americans Are Right To Be Worried About The GOP Tax Plan

GOP unveils plan doubling deduction, killing death tax

Nothing is free. And middle class Americans are worried that they are the ones who will ultimately get the bill for the GOP plan for tax cuts for the rich.

From the New York Times,

The Republicans’ plan proposes to offset $2 trillion in tax cuts in part by going after the deductions enjoyed by the upper middle class, generally those earning $100,000 to $250,000 a year, representing about the top 20 to 5 percent of earners. The Joint Committee on Taxation found, for instance, that nearly 90 percent of the state and local tax-deduction benefit went to people earning more than $100,000. The House plans would cap the deduction at $10,000. The Senate plan is said to eliminate the deduction entirely.

But it gets worse than that. If the Republicans manage to pull off their massive redistribution of wealth to the rich, which is so far estimated to add at least $1.5 trillion to the national debt, it won’t be long before those same Republicans suddenly decide to pay for it by cutting programs that millions of Americans need to survive.

On All In With Chris Hayes, Sen. Sanders said,

These tax proposals, among many other things and many other provisions in it, would create a $1.5 trillion increase in our deficits, and what the Republicans were very clear about … is saying that what we will then do – and they were clear in the budget – we will cut Medicaid by $1 trillion, Medicare by over $400 billion, Pell Grants, nutrition programs, environmental protection programs. So if they do this, trust me, the day after, they will come back talking about Social Security, Medicare, Medicaid, and the need to cut those programs.

So, not only will middle class families get hit with a tax increase under the Trump-Ryan tax plan, they’re also likely to face the fight of their life to try to save their Medicare and Social Security.

The Intercept concurs, citing a warning from senate minority leader Sen. Chuck Schumer (D-NY).

A lot of attention has been paid to the Republican plan that will cost trillions and trillions of dollars, but not many Americans know that the president and Republicans are going to try to pay for some of those tax cuts by slashing programs seniors and middle-class Americans rely on,” Senate Minority Leader Chuck Schumer said at a news conference Tuesday.

When on the campaign trail, Trump promised the complete opposite.

After watching Trump’s actions in office instead of listening to his barren words, it should come as no surprise that what Trumpsters voted for and what they got are not even close.

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Gracie Lou

Gracie Lou

Gracie Lou is a political junkie, animal rights advocate, and award-winning writer. She believes that if people can stand on line to buy junk food, they can stand on line to vote.
Gracie Lou