Are We Really On Trump’s Fourth Tax Plan?

For a guy that really doesn’t like policy or reading up on detailed policy papers, Donald Trump sure does have a penchant for introducing new tax plans. Today, Trump is releasing his FOURTH tax plan, in what might be an all-time record. Maybe he just keeps learning more and more about the economy as this campaign goes on?

We know Donald Trump’s chief economic advisers also happen to be his top campaign donors (and Wall Street and hedge fund investors), so it’s no surprise that the common thread through each of Trump’s tax plans has been disproportionate after-tax income boosts for top income-earners.

Another commonality: each of Trump’s tax proposals would add around $10 trillion to the national debt. And Moody’s Analytics reports that the implementation of Trump’s policies would mean that “the economy suffers a lengthy recession and is smaller at the end of his four-year term than when he […]

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Trump’s Tax Plan And Mass-Deportation Would Add Trillions In Debt

Donald Trump says he cares about American lives, but his anti-immigrant policies would do nothing but hurt the economy.

Trump has a great economic agenda. For him, anyway. And despite Trump’s empty rhetoric, his anti-immigrant policies would do nothing but hurt the economy.

Under Trump’s tax plan, top income-earning households like Trump’s would get the “largest cuts” — “an average tax cut worth over $1.3 million, nearly 19 percent of after-tax income” for the top 0.1%, according to the Tax Policy Center. That’s a great deal for Trump and his billionaire friends and campaign-donor economic advisers, because they benefit disproportionately — but the lowest income-earners are left with “an average tax cut of $128.”

And Trump’s running mate loves to complain about the national debt — but a Trump tax agenda “would make [it] skyrocket by $10 trillion or more.” Trump’s tax reform proposal and trade policies could […]

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Trump’s Tax Plan Is Extremely Dangerous

Trump’s tax plan “would make the national debt skyrocket by $10 trillion or more.”

Moody’s Analytics found that Trump’s tax reform proposal and trade policies could very well bring about a “lengthy recession,” and noted that Trump’s “Who the hell cares if there’s a trade war?” bravado is as dangerous as it is naive, because such a trade war would render “the U.S. economy…isolated and diminished.”

Trump only cares about enriching himself and will act to give himself a kickback whenever possible, no matter who has to get hurt in the process. Just look at the way Trump cheered on the housing crisis. Or the way in which he celebrated the prospect of disastrous post-Brexit economic turmoil because he thought it would be good for his business interests. 

Trump hasn’t demonstrated the ability to separate his business interests and the nation’s interests–and that is a hazardous shortcoming. 

Donald Trump is a reckless, […]

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Ryan And Trump Agree On Taxes: Massive Cuts For The Wealthy

Paul Ryan is finding a lot to like in Donald Trump’s plan to give millionaires and billionaires massive tax breaks, but the rest of us should be nervous. Trump’s tax plan “would make the national debt skyrocket by $10 trillion or more,” because it would slash income taxes on the wealthy and eliminate inheritance taxes entirely — all to ensure that Trump and his billionaire friends and donors get massive, disproportionate tax breaks. According to the Tax Policy Center, Trump’s plan would:

Top income-earning households “would receive the largest cuts.” The top 0.1 percent would receive “an average tax cut worth over $1.3 million, nearly 19 percent of after-tax income.”
But “lowest-income households” would only get an “average tax cut of $128,” amounting to 1% of after-tax income.

In sum: Trump’s plan “would produce extremely large and unprecedented tax-cut windfalls for people with incomes exceeding $1 million a year, almost certainly at the expense […]

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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.”

Read more after the jump.