by James Tricoli
AMHERST TIMES
“The rich will not be gaining at all with this plan,” Trump told reporters during a meeting with lawmakers in mid-September. But analysts at the nonpartisan Tax Policy Center who studied the proposal reached a very different conclusion. They predict that nearly three-quarters of the savings from the tax overhaul would go to the top 20 percent of earners — those making more than $149,000.
More than half the savings would go to the top 1 percent — people who earn more than $732,800. The tax breaks are even more tilted to the wealthy by the 10th year of the overhaul, when the Tax Policy Center projects nearly 80 percent of the savings would go to the top 1 percent of earners.
This plan will leave 13 million people without any health care protection in 10 years.
It is well known that when our President gives a speech he wants the people to love him. He’s pushing this tax cut as the BIGGEST TAX CUT IN AMERICAN HISTORY. He is saying this tax cut will help the middle class and poor. In reality it’s business as usual. The rich will get richer in this 8th biggest tax cut in American history.
Jim Tricoli is editor of Amhersttimes.com.
Originally published on Amherst Times. Republished with permission.
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