By now, enough of the harsh reality of the Republican tax plan has been discovered by Americans. That is why most are opposed. They oppose a huge transfer of wealth to those who don't need it from the majority of middle class Americans who do need help. They are against giving hundreds of billions of dollars to the largest corporations and the richest Americans with increased borrowing on our children and grandchildren. Their proposal would cost about $2.3 trillion in increased debt and interest. They are raising taxes on almost 9 million middle-income people with very high medical bills. The Alzheimer's tax is a bad idea and people hate it. People noticed that the huge permanent tax breaks for businesses and the wealthy--they have got theirs--but the tax relief for middle-income Americans is temporary and will disappear over time. By 2023, the average American who makes $30,000 a year or less will see a tax increase. By 2027, all tax brackets under $75,000 are going to see a tax increase. Because the Republicans will change the way that tax brackets are adjusted for inflation, we are going to see people pulled up into ever higher tax rates--a stealth tax increase. For middle class Americans, their tax relief is a political football while the rich and the powerful are protected.…
On the recordDecember 12, 2017
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