Donald Trump advisor Steve Moore teamed up with Fox News host Trish Regan to snow viewers into thinking that Trump’s tax plan “primarily helps the middle class,” as FoxNews.com put it in its title for the segment.
MOORE: This is so good for workers. It was one of the real, the heart of the Trump plan was to revive the economy through tax cuts and reduction of regulations. So I think Democrats could pay a heavy price if they stand in the way of getting this tax cut.
REGAN: You know what they don’t like? They don’t like the fact that you’re giving a tax cut to everyone who pays taxes, including those in the 1% that, by the way, are paying overall tax revenues.
MOORE: When the plan was designed, Donald Trump actually told us, “I don’t want a tax cut for the rich.” So what we did was we reduced the tax rates for higher income people, but we take away a lot of their deductions.
REGAN: I know you do.
MOORE: If you look at people making a million dollars or more, they’re actually not going to get a tax cut, they’re going to lose deductions, lower rates, that’s what Ronald Reagan did, it was an efficient tax system. The heart of the tax plan on the individual side goes to the millions and millions of people who are in the middle class. The Democrats aren’t even right in their arithmetic here.
REGAN: It makes for popular rhetoric right? They’d like to be able to say, “Hey, those tax cuts they’re going to benefit all of Trump’s billionaire friends, and oh, check out all those billionaires in his cabinet, and this is just the perpetuation of the rich elite controlling the rest of America.”
Regan also credited Trump for having “really made a conservative platform more about empowering the middle class, empowering workers, and this is the mantle that the Democrats had claimed.”
What neither mentioned was that top earners would benefit the most and that Trump's plan could harm the economy.
Donald Trump’s new tax plan gives the top 1 percent an average cut of at least $122,400, while the middle class could get a break of less than $500, according to a new analysis.
According to the plan, the top 1 percent of taxpayers would see a 10.2 percent to 16 percent boost in their after-tax incomes from the plan, assuming a steady economy. The middle class, or those in the 40 percent to 60 percent quintile, would only see a 1.3 percent increase.
On top of all that, the loss in government revenue could harm the economy. NPR reported:
The Tax Policy Center says that over the first decade, the government would lose $6.2 trillion in revenue, producing huge budget deficits that could hurt the economy.
Watch the snow job below, from the December 29, 2016 Your World.
No matter how you slice it, when rich individuals and big corporations don’t pay taxes or pay less than their fair share, SOMEONE ELSE MUST MAKE UP THE DIFFERENCE! Working class Americans not fortunate enough to hit the birth lottery like the Trumps and the Forbes families (including me) know all too well who that someone else always is.