On the recordNovember 1, 2017
Well, not surprisingly, Republicans have had to delay the release of their tax plan because it is so deeply unpopular. We haven't seen all of the details yet, but what we know about it is that this is really bad for working families. The nonpartisan Tax Policy Center says that the Republican plan raises taxes on many middle class families to pay for a massive tax cut for the people at the very top, the wealthiest Americans. The details matter. A family of four earning $50,000 could see their taxes go up 380 percent. Meanwhile, 80 percent of the benefits of this ``billionaires first'' tax plan go to the richest 1 percent--80 percent of the benefits to the richest 1 percent. That is not middle class tax relief. And how do we pay for these massive tax cuts to the wealthy? What are we going to do? We are going to see cuts in Medicare, Medicaid, and education. If anybody thinks we can do this and go big on infrastructure and rebuild America's capacity to produce, they better think twice. Plus, saddling our grandkids with a huge debt. What happened to the deficit hawks in this place? This is wrong, and we ought to reject it. ____________________
Source
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