Donald Trump’s tax plan is a wolf in sheep’s clothing

Donald Trump’s tax plan is a wolf in sheep’s clothing. MSNBC is reporting today,

Republican presidential front-runner Donald Trump’s tax plan would cost an eye-popping $12 trillion over 10 years, according a new estimate that runs directly counter to the billionaire’s pledge not to increase the deficit with the proposal.

The conservative Tax Foundation, which has been scoring candidates’ tax proposals throughout the race, found that Trump’s changes to the individual tax code would add $10.2 trillion to the deficit using traditional scoring methods, his corporate tax cuts would add $1.54 trillion and his proposal to eliminate the estate tax would add another $238 billion.

In addition, the gains from the cuts would disproportionately benefit ultra-wealthy Americans like Trump, whose personal income, business earnings and inheritors all stand to gain from a number of its provisions. According to the analysis, the wealthiest 1% of Americans would see their after-tax incomes increase by 21.6% versus just 1.4% for the poorest 10%.

It’s a wolf because it preferentially benefits the 1% compared to the 99% by a factor of 20 to 1. The wolf is concealed in sheep’s clothing because the 99% would also enjoy a substantial benefit. Josh Barrow of the New York Times writes,

Married couples would pay no tax on their first $50,000 of income and just 10 percent on the next $50,000. A married couple with no children earning $100,000 and taking the standard deduction would pay $11,437 in income tax under today’s rules; under Mr. Trump’s plan, they would pay just $5,000, a tax cut of 56 percent. Many people with low-to-moderate incomes would see their income tax bills reduced to zero, increasing the share of the population that pays no income tax at all.

Here’s Paul Krugman’s take on it today,

But I do want to weigh in for a minute on Donald Trump’s tax plan — which would, surprise, lavish huge cuts on the wealthy while blowing up the deficit. That’s in contrast to Jeb Bush’s plan, which would lavish huge cuts on the wealthy while blowing up the deficit, and Marco Rubio’s plan, which would lavish huge cuts on the wealthy while blowing up the deficit.

At this point there are no Republican candidates deviating at all from the usual pattern. Why, it’s almost as if nobody in the party ever cared about deficits except as an excuse to slash social spending, and is totally committed to redistributing income upward.

And there is, of course, no evidence — zero, nada, zilch — that cutting taxes on the rich will yield large economic benefits.

Basically, Trump’s plan is more Republican financially irresponsible bullshit to “blow up the deficit,” so that the 1%  can gorge itself on money while creating an excuse to cut, if not eliminate, Social Security, Medicare and Obamacare.

In two words, his plan is not only a wolf in sheep’s clothing, it’s dishonest and disgusting.

Meanwhile, Republican members of the House Oversight Committee insulted and disrespected Cecille Richards, the President of Planned Parenthood, cutting her off  and shouting her down as she attempted to respectfully answer their questions. They assumed the worst even though there is no evidence to support any of their accusations and their principal accuser, Carly Fiorina, is a proven liar..

We have a word for what they are: SCUMBAGS.

There, I said it.

_________________________________

Go here to read the Tax Foundation report.

14 Responses to Donald Trump’s tax plan is a wolf in sheep’s clothing

  1. Bill Taylor says:

    amazing stuff……..so to you folks the democrats are honest? if so this is NOT a place for any person with an ounce of intelligence……..take care

  2. a2nite says:

    It’s a wolf in wolf’s clothing.

  3. Malisha says:

    Tramp’s idea is a predatory tax plan.

  4. So true about the rudeness of the treatment……always ugly to see an ignorant bully in action. CR was soooo cool….and thankfully many of the lies have been called out.

  5. Malisha says:

    Sorry to be OT but this should actually go on the prior post re Carly Fiorina’s lying.

    https://drjengunter.wordpress.com/2015/09/29/the-center-for-bio-ethical-reform-promotes-illegally-taped-video-of-perineum-and-premature-delivery-and-fiorina-supports-them/

    I would like to see a congressional investigation into the tape. I want to know who shot this video, where, who was part of the production, who was the alleged criminal who wanted to “harvest the brain,” etc. etc. I think we should “get to the bottom of this.”

    • Thanks for the link. The Republicans are shameless liars and here’s another example (link provided by Jonathan Capeheart at MSNBC)

      During her testimony before a congressional committee Tuesday, Planned Parenthood president Cecile Richards called out Republican Rep. Jason Chaffetz for displaying a slide that showed a graph created by an anti-abortion group, rather than a neutral source. Richards had good reason to be skeptical of the image, which turns out to be stunningly misleading.

  6. ed nelson says:

    Ok Fred, have it your way, the debate, and candidates are for real. Not like I think, which is that the whole process of party politics austensibley vetting out to see who they want to run for the president, is more a fraud in that department, but still a viable and important system to: Float ideas!

    The ”candidates” are not real Candidates at all! They are ghosts who work to put out the most awful ideas and concepts, and ply the media with these poisonous things.

    JEB is the candidate.

    The side show gives the not overly intelligent Repubs… a great opportunity to familiarize the people… (we the… ) of some of the horrible stuff that they want to bring in… So’s it won’t be too crazy sounding… we, having been familiarized with the dumb ideas…

    ie:killing SS, by first… privatizing it! Going with a general drift/avalanche more like when they get the ”Helm” of dismantalment of all social ”entitlements”, and what is left of what is called ”the commons”, Look at Greece, US is not too far behind, but the Sheeple, man you got some sorry ass sheeple.

    Trump is a sorry excuse for a white man. I Dis own that guy, he looks like the Viking mummy over in Schleswig, that was found in the peat bog one thousand years old and still a perfect face on the thing. Somebody of old put that bastard there, probably cause he had red hair and was a no goodnik!

    Of course maybe I am wrong.

    • gblock says:

      It looks like it might very well be similar to the 2012 campaign, which saw the rise and fall of quite a few clowns before the Republican party settled down with the real candidate (Romney, in that case).

    • gblock says:

      By the way, “alternate” candidates on the Democratic side may serve a somewhat similar purpose of floating ideas that the expected nominee won’t come out with right off. Although in this case, the ideas they come out with tend to be further to the left and they’re advocating ideas that actually may help the vast majority of the US population.

  7. Malisha says:

    Because the majority of Americans are both stupid and ignorant, this stuff will fly and we will be back to a total slave society (with slaves being of all ethnicities and races, and fighting each other) within a decade. There are, however, more than two words for this. I’m so tired of thinking them all (in a mental rage at what has become of us) that I won’t even go into it for fun.

  8. Not only is it evil, it’s openly evil. Trump pretty much smirked when he unveiled his “plan.”

    • Speaking of smirks, Grover Norquist, the man who proposed privatizing as much of the government as possible and drowning its remains in a bathtub, delivered his seal of approval to Trump’s (i.e., Jeb’s) plan with a big smile.

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