And now, republicans want to give even more money to corporations in the form of tax cuts while removing tax benefits from the middle-class:
"Bill Signals Top Tax Priority of G.O.P. Is to Help Corporations"
https://www.nytimes.com/2017/11/16/us/politics/republican-tax-plans-corporations.html
"The version of the bill that the Senate Finance Committee approved along party lines late Thursday chooses to give peace of mind to corporate executives planning their long-term investments. That comes at the expense of added anxiety for individual taxpayers, particularly those in the middle class, who could face stiff tax increases on Jan. 1, 2026."
But the middle-class paying more in taxes will not be enough for the $1 trillion that's needed for the massive corporate tax cut. Therefore, even students will also have to pay more:
"Grad Students Would Be Hit By Massive Tax Hike Under House GOP Plan"
https://www.npr.org/2017/11/14/563879136/house-gop-tax-plan-would-hit-grad-students-with-massive-tax-hike
"There are a lot of anxious graduate students at universities around the country right now.
That's because to help pay for more than $1 trillion in tax cuts for U.S. corporations, the House Republican tax plan would raise taxes on grad students in a very big way. These students make very little money to begin with. And many would have to pay about half of their modest student stipends in taxes."
"The House just passed its big tax bill. Here’s what is in it."
"Say goodbye to most deductions. Almost all itemized deductions are going away, except for three. The final House bill keeps the deductions for charitable donations, property taxes up to $10,000 a year and the mortgage interest deduction. The mortgage interest deduction would be capped at $500,000 for mortgages (down from $1 million now).
Say goodbye to the tax credits for plug-in motor vehicles...
Say goodbye to the deduction for medical expenses...
Say goodbye to the deduction for moving expenses...
Say goodbye to most tax benefits for college...
Say goodbye to the deduction for theft or loss of valuables..."
Taking it all of this into account, it's no surprise 52% of Americans disapprove of the GOP tax plan:
"Poll: 52% disapprove of GOP tax plan"
"52% of American voters disapprove of the GOP tax plan, according to the latest Quinnipiac poll. 25% of American voters approve of it. The tax plan has 60% support among Republicans.
"52% of American voters disapprove of the GOP tax plan, according to the latest Quinnipiac poll. 25% of American voters approve of it. The tax plan has 60% support among Republicans.
"52% of American voters disapprove of the GOP tax plan, according to the latest Quinnipiac poll. 25% of American voters approve of it. The tax plan has 60% support among Republicans.
Why it matters: The GOP's message is that the tax overhaul is supposed to be good for all Americans and reduce taxes for most Americans, but 61% think the plan will benefit the wealthy the most, and only 16% say the plan will reduce their taxes."
Why it matters: The GOP's message is that the tax overhaul is supposed to be good for all Americans and reduce taxes for most Americans, but 61% think the plan will benefit the wealthy the most, and only 16% say the plan will reduce their taxes."
No comments:
Post a Comment