Middle Class Would Find Higher Taxes Under Republican Plan
In other words, we will pay to keep the rich on welfare from government subsidies and tax loopholes. The rich don’t bring jobs, working middle class people who spend create demand, thus employers hire more employees to meet the demand. Thus, it is the middle class who create jobs, which is what the Democrats have been saying all along, and has been proven with the surplus of Clinton.
The Congressional Research Service released a report last month reviewing the Republicans proposed tax reform plan that would broaden the tax base, and what they found was that under their proposal the net result would be cutting taxes on the wealthiest Americans while raising taxes on the middle and lower class. The report was actually prepared by Democrats and they then sent their findings to be reviewed by nonpartisan tax experts including The Tax Policy Center. I have noticed this has received very little attention so I wanted to share some their findings.
Under the GOP plan, they would replace the current tax structure with a two bracket system (otherwise known as a flat tax) — 25% and 10% — cutting the top tax rate from the current 35% to 25%. This would benefit everyone and result in a reduction of federal tax collection by $4.5 trillion dollars. Now…
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