>
Source: 30dB.com – Trump%20Tax%20Plan
President Trump’s proposal to restructure taxes on individuals and corporations was unveiled last Wednesday, and it seems mostly to benefit the rich. An analysis by the Urban-Brooks Tax Policy Center concluded: “All income groups would see their average taxes fall, but some taxpayers in each group would face tax increases. Those with the very highest incomes would receive the biggest tax cuts.” That’s a far cry from President Trump’s own message about his plan, which he predicted would be a “miracle” for the middle class that wouldn’t benefit him or his family. He also hasn’t exactly explained how the tax cuts would help alleviate the federal deficit, which the Tax Policy Center says would grow even larger if the proposal is enacted. But Scott Hodge of the nonpartisan Tax Foundation called the plan “a step in the right direction.” For now, it remains unclear if Republicans in Congress are going to embrace what POTUS is pushing or tweak it. Over the last three days, “Trump Tax Plan” has a 48 percent positive score on Social. –Alex Shultz
Republished from 30dB