Bigoted outsider Donald Trump was swept into the White House on the backs of disenfranchised voters who foolishly still believe that he’ll provide the answer to all their economic woes.
Unfortunately for these naïve Trumpers, as perfectly explained by Democratic Congressman Keith Ellison of Minnesota, “His populist image and the reality of his policies are on a collision course, and they’re going to crash.” Fortunately, Democrats have a plan of attack for Trump’s pro-rich tax plan.
Part of Trump’s tax plan, which would certainly not help any lower middle class and middle class Trump voters, is Trump’s desire to eliminate the Estate Tax, which Republicans cleverly term the “Death Tax.” Reports Bloomberg, the Estate Tax “currently applies only to estates worth more than $5.45 million for individuals and $10.9 million for couples. Data from the Internal Revenue Service and the U.S. Census Bureau show that far less than one percent of the people who die each year pay any estate tax.” Adds Forbes about Trump’s corporate tax plan, “Trump wants to cut the corporate income tax rate by more than half, to 15%, and make that available to the half of all US businesses that are not in corporate form.”
Bloomberg reported on the Democratic plan to fight back, saying, “Congressional Democrats say they’ll try to thwart Republican plans to overhaul the U.S. tax code by portraying them as a boon for the rich that betrays President-elect Donald Trump’s campaign promise to fight for working Americans.” Richard Neal of Massachusetts is the head democrat on Congress’s Ways and Means Committee. Says Bloomberg, “Neal and others say they’ll zero in on upper-income tax breaks pitched by Trump and House leaders in an attempt to make it politically difficult for Republicans to support large parts of the emerging plans. Their initial comments suggest that the 115th Congress, which convenes Jan. 3 with a Republican-led agenda of instituting a broad tax overhaul and repealing Obamacare, will be peppered with debate over income inequality.” Do you think it will work?