Donald Trump's Tax Plan Would Make the Rich Richer, Uncle Sam Poorer

[Bigun]

Donald Trump's Tax Plan Would Make the Rich Richer, Uncle Sam Poorer

According to a study.

An analysis of Donald Trump’s tax plan by a research institute reveals two interesting points: the U.S. government would get a lot poorer, and the wealthy would get a lot richer.

In the Tax Policy Center’s analysis of the Republican candidate’s proposal, the institute said that Trump’s plan would reduce federal revenues by $9.5 trillion over its first decade, and an additional $15.0 trillion over the next 10 years. Including interest costs, the Center said, the proposal would add $11.2 trillion to the national debt by 2026.

To put that into perspective, Trump’s tax plan would cause the debt to GDP ratio to hit 180% by 2036, the Center found.

Most of the revenue loss from Trump’s plan – which you can read here – stems from individual income tax cuts, the Center said in its study released Tuesday. While the plan cuts taxes for all income levels, the biggest cuts involve the highest-income level, both in dollar terms and as a percentage of income. By 2017, the highest-income 1% of taxpayers would receive a tax cut of 17.5% of after-tax income, and the top 0.1% — those with incomes of over $3.7 million in current dollars — would experience an average tax cut of more than $1.3 million, nearly 19% of after-tax income.

Much more at link

http://fortune.com/2015/12/23/donald-trump-plan-tax-policy-center/

[Fishrrman]

I have no objections to a tax plan that makes "Uncle Sam" poorer. The less $$$ in his pocket, the more of it remains in the pockets of taxpayers of all economic brackets.

Neither do I object to the rich growing richer, they have a talent for doin' that anyway.

I want a plan that LEAVES ME ALONE, and perhaps even reduces MY taxes.

How's that?