Trump Won’t Raise Taxes On The Wealthy–He Will Make Millions

Following a confusing explanation of his tax plan on Meet The Press, rumors circulated that Donald Trump may be open to raising taxes on the super-rich. On CNN’s New Day this morning, Trump angrily fought back against this characterization of his tax-plan; Mr. Trump has a point. His tax plan would in fact be an unprecedented giveaway to the super-rich. 

The Tax Policy Center determined the richest 0.1 percent would receive an average tax cut of $1.3 million under Trump’s plan. Trump claimed he would pay more under his plan, but fact checks revealed he would receive millions in benefits – the full extent of which cannot be calculated without the release of his tax returns.

While Trump has been adamant that his priority is reducing the tax-burden on the middle class, the actual substance of his tax plan reveals a series of tax breaks for the ultra-rich while generating trillions of dollars in new […]

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American Bridge Statement on Tonight’s Primary Results

American Bridge 21st Century President Jessica Mackler released the following statement in response to tonight’s Republican primary and caucus results:

“Another day of primary and caucus elections, another big night Donald Trump and Ted Cruz, and another data point indicating that the Republican party is poised to nominate a candidate viewed by members of their own party as not just unelectable, but dangerous to downballot candidates as well.  From tax plans that overwhelmingly benefit the wealthy to dangerous foreign policy, Donald Trump and Ted Cruz are leaving mainstream voters far, far behind, and their party is in lockstep behind them.”

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GOP Tax Plans Give To The Rich At The Expense Of Working And Middle Class Families

Ted Cruz at tonight’s Fox News dumpster fire made sure everyone knows he supports a regressive flat tax that will explode the deficit.

The Sheriff of Nottingham called, he wants his tax plan back.

The Republican candidates’ tax plans are entirely focused on making huge cuts to the wealthiest Americans’ taxes, while leaving middle class and working families behind. Slashing taxes on investment income like capital gains, the Republicans are doing their best to impress special interests like the Koch brothers. As if that weren’t bad enough, Ted Cruz, Marco Rubio and Donald Trump’s plans all add trillions to the deficit to pay for massive giveaways to the wealthy.

Take a look at the damaging tax agenda of the GOP presidential candidates:

Tax experts estimate that Ted Cruz’s flat tax would add between $3.7 trillion to $16.2 trillion to the deficit over a decade. At the same time, his extremely regressive flat-tax proposal would require that middle-class income earners pay a greater percentage […]

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GOP Megadonors Still Have Plenty Of Billionaire-Friendly Tax Plans To Choose From

Wolf Blitzer tried to poke holes in Donald Trump, Ted Cruz, and Marco Rubio’s tax plans that give massive tax cuts to millionaires and billionaires, but the candidates weren’t interesting in talking about the real world implications like exploding the deficit.

In reality, each of the remaining GOP candidates are touting tax plans that put their big donors over working American families. Their proposals give millionaires and billionaires massively disproportionate after-tax income boosts, while middle class Americans get left behind — add trillions are added to the deficit.

We get that the Koch brothers are nervous because they can’t buy-off Donald Trump and influence his policy positions, but they can rest assured that even his tax plan would work out pretty well for them.

 

Donald Trump, running as a demagogic, fear-mongering “man of the people” is pushing a tax plan that is, well, “great for Donald Trump.”  Here’s the rundown on Trump’s plan, which would […]

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Jeb Bush’s Tax Plan Is A Giveaway To His Wall Street Buddies

At CNN’s town hall, Jeb Bush talked about growing small businesses, but his tax proposal is a big giveaway to Wall Street, with disproportionate boosts in after-tax income for top earners like the Kochs brothers. While Jeb has misleadingly claimed that the middle class would benefit most from his proposal with a $2,000 increase in after-tax income, that just isn’t true.

Here are the facts about Jeb’s plan:

Middle-class Americans would get a 2.9 increase in after-tax income under Bush’s plan. But that cut is dwarfed by the top 1%’s 11.6% increase;
Jeb would “save $3 million” under his own proposal;
When called on his proposal’s disproportionate boosts for him and his Wall Street donors, Jeb simply said: “[T]hat’s just the way it is“; and,
Jeb’s proposal has a big price tag: It would add $8.1 to the deficit.

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American Bridge Statement On Tonight’s GOP Town Hall In South Carolina

American Bridge 21st Century President Jessica Mackler released the following statement on tonight’s Republican town hall in South Carolina:

“Donald Trump won’t have his chance to participate in CNN’s South Carolina town hall until tomorrow night, but tonight Ben Carson, Marco Rubio and Ted Cruz did their best to make sure his presence wasn’t missed. Whether it was xenophobic immigration policies, attacks on women’s health, tax plans that would leave hardworking families hanging out to dry, assertions that their fellow Republicans are ‘liars,’ or their own laundry list of departures from the truth, Carson, Rubio and Cruz made it clear that the Republican Party is now the Party of Trump. Look out for more of the same tomorrow as Jeb Bush and John Kasich join the Republican frontrunner on stage.”

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Rubio’s Big-Donor Appeal: Massive Income Tax Cuts And No Taxes On Investment Income

Tonight, Marco Rubio said he wants to “simplify” the U.S. tax code. He laid out broad strokes on his plan, but what he didn’t mention is that he’s been one of the GOP field’s most prolific beneficiaries of contributions from Wall Street and hedge fund investors.

Rubio’s tax plan that disproportionately boosts top income-earners like the Koch brothers at the expense of working families would:

Entirely eliminate capital gains taxes — an extreme “break with the GOP”;
Gift “the top 1 percent…tax cuts more than 103 times larger than the poorest 20 percent”; and,
Add at least $6.8 trillion to the deficit.

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Carson’s Tax Proposal Is Characteristically Light On Details — But We Know It Costs $1.1 Trillion

Ben Carson said he has big ideas for the economy, and told CNN viewers to visit his website. We’ll save you the click. His tax plan, well…

As is his custom on most issue areas, Ben Carson has offered few specifics on his tithing-inspired tax proposal. Here’s what we do know: in true Republican fashion, his plan would create a massive deficit to the tune of $1.1 trillion.

Read more after the jump.

Rubio Looks To Increase Deficit With $6.8 Trillion, Big Donor-Friendly Tax Plan

Like Ted Cruz, Donald Trump, Jeb Bush — pretty much every other Republican candidate — Marco Rubio is promoting a tax plan with a multi-trillion dollar price tag — $6.8 trillion, to be specific.

And like the rest, Rubio also wants to give a massively disproportionate boost in after-tax income to the wealthy few. There’s a reason Wall Street billionaires and hedge fund managers are backing his candidacy. And that’s why Koch network donors are seemingly getting serious about throwing some money his way. Here’s more, from the New York Times’s Josh Barro:

[Rubio’s] new plan would raise incomes for the top one-thousandth of taxpayers by 8.9 percent — that is, an average tax cut of more than $900,000 per year — because of its sharp cuts in tax rates on business income and capital income.

Read more from The New York Times.

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Ted Cruz’s Tax Plan Would Cost $8.6 Trillion, “Mainly Benefit High-Income Households”

Costing $8.6 trillion and “mainly [benefiting] high-income households,” Ted Cruz’s tax plan fits right in with the rest of the GOP field’s extreme proposals that add trillions to the deficit while disproportionately boosting the wealthy few at the expense of working families

Read more from Reuters

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