Trump’s Tax Plan is the Greatest Transfer from the Poor to the Rich in History

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Economists and political analysts are still in shock after Trump’s bombshell tax plan. There is so much wrong with the plan that it’s hard to even write it all down. Accredited media outlets are frantically trying to communicate to the public just how terrible it is, from headlines about how Trump’s family will personally benefit, to just how impossible it will be to pay for. This is by far the most irresponsible and corrupt tax plan in American history and it should have every patriotic American up in arms and ready to impeach Trump immediately.

The plan promises to cut the top bracket of corporate tax from an already measly 35% down to an astonishingly low 20%! That means that corporations will be getting away scot-free and keeping 80% of their own profits! Let me say that again in case you didn’t get it. Corporations will get to keep 80% of their own money! This is an unprecedented wealth transfer from the poor to the rich, benefiting only the people in Trump’s income bracket, from CEO’s to hedge fund managers to overpaid corporate big shots. And guess who will be picking up the tab? You guessed it – low income proletariat workers, minority single mothers on welfare, underpaid government workers, undocumented Americans and anyone who is dependent on a strong social welfare system. Trump is taking money out of their desperate hands and putting in the hands of corporate giants who are already swimming in money. This tax plan is beyond unfair and regressive, it is a humanitarian crisis!

Small businesses and big shot contractors are now only required to pay a flat rate of 25%, so they’re getting away scot-free too. Contractors like to pretend to be businesses but in reality they are just individuals trying to game the system and pay less tax. They need to pay more just like permanent employees. Smart-ass programmers, accountants and lawyers who hide behind fake corporations while their colleagues pay much higher tax rates are weasels and need to be brought to justice.

Trump also vastly oversimplifies personal income tax, creating just three brackets of 12%, 25% and 35%, totally eliminating the intricate and sophisticated continuous tax brackets that catered for a wider range of incomes. Top earners will also be delighted to find out that they will be paying a whopping 4.6% less, while bottom earners will be paying 2% more, another huge transfer of wealth from the poor to the rich.

How is Trump going to pay for this gigantic overhaul of our tax system? What essential government services are going to have to be cut? I don’t know about you, but I’m outraged about this deeply irresponsible and regressive plan, and anyone with a sense of justice should be too!

Pbier

As all Accredited economists know, there is an imposter called Laffer who posited that there was an optimal ‘intermediate’ rate of tax, between 0% and 100%, at which tax revenues are maximised. He drew a so-called ‘Laffer Curve’, showing just how egotistical he was, that purported to indicate the tax take at different tax rates. The ´optimal’ rate could be as low as 20% or even 30%.

What a fraud! As all progressives know, a 100% tax rate is optimal because the government then gets to keep everything. It’s only because the government is generous that it allows people to keep some of their own money, even if it results in government jobs being drastically underpaid.

Black Lives Matter

Art Laffer is a fraud. Higher taxes mean higher tax revenues and more prosperity. Just look at Venezuela and Argentina.

drb6
drb6

While I agree with your conclusions, 100% tax rate is simply not sufficient. A 150 or even 250% tax rate would be much better.

Black Lives Matter

Totally agree. Argentina is already well over 100%. We can do better.

hungrypirana
hungrypirana

Stuff it. I want my 1040 postcard. #MAGA

Tax Accountant - trust me, tax filing is very hard
Tax Accountant - trust me, tax filing is very hard

You’ll be using 1040EZ unless you pay a boatload of mortgage interest.

Business will still be good for me though, because Americans are even still too stupid to figure out 1040EZ.

Black Lives Matter

I bet it’s hard for all your rich clients to try to pay less. The rich need to pay their fair share!

trav777

Despite multiple data analyses showing the poor have no actual wealth, this tax plan is INCONTROVERTIBLY a HUGE transfer of wealth from them to the rich!!!!!1

Black Lives Matter

Poor people have no wealth because Trump STOLE IT.

Black Lives Matter

No more tax cuts for the rich!

Make the rich pay their fair share!!!

Anderson Cooper
Anderson Cooper

10% to 12% is actually a 20% increase. What kind of accredited journalist are you? We’ll have to send you to a CNN seminar on accurate reporting.

Anderson Cooper
Anderson Cooper

I should say. You don’t yell the low earners tgat they will be paying 2% more. You tell them their tax rate will increase 20%. You were accurate in not mentioning the standard deduction increase, however.

Black Lives Matter

I love your show! Are you and Don Lemon dating?

Anderson Cooper
Anderson Cooper

Thanks you for your support. Don and I are close, but we aren’t openly dating.

That’s not to say we haven’t, you know, met up in the 3rd stall of the men’s room a few times. I love a good black man.

#accredited-times-pick

Black Lives Matter

Wow, the 3rd stall — so romantic! You should seriously get a gay marriage. It’s not like you have to be monogamous or anything. It would make CNN #1 again!

hungrypirana
hungrypirana

you ever done or been done by barney fag?

#homophobic

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