{"id":7187,"date":"2017-12-16T10:25:02","date_gmt":"2017-12-16T18:25:02","guid":{"rendered":"http:\/\/occupysf.net\/?p=7187"},"modified":"2017-12-16T10:29:12","modified_gmt":"2017-12-16T18:29:12","slug":"trump-just-accidentally-told-millions-working-class-families-truth-gop-tax-plan","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2017\/12\/16\/trump-just-accidentally-told-millions-working-class-families-truth-gop-tax-plan\/","title":{"rendered":"Trump Just Accidentally Told Millions of Working Class Families the Truth About GOP Tax Plan"},"content":{"rendered":"
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December 15, 2017\u00a0<\/span><\/span>by Common Dreams<\/a><\/div>\n
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Trump slipped up and (correctly) called the GOP plan the “biggest tax increase” in American history.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n
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by\u00a0Jake Johnson, staff writer<\/a><\/span><\/div>\n<\/div>\n
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\"PresidentPresident Donald Trump speaks to members of the White House Press Corps prior to his Marine One departure from the South Lawn of the White House December 15, 2017 in Washington, D.C. (Photo: Alex Wong\/Getty Images)<\/span><\/em><\/span><\/p>\n

President Donald Trump\u00a0lies a lot<\/a>\u2014especially about the Republican tax plan<\/a>\u2014but during a Friday morning scrum with reporters on the White House lawn, Trump\u00a0accidentally<\/a>\u00a0told the truth.<\/p>\n

Asked about the GOP tax bill, which is expected to hit the floor of the House and Senate for a final vote\u00a0early next week<\/a>, Trump said: “I think we’re doing very well, it’s something that’s going to be monumental. It will be the biggest tax increase\u2014or tax cut\u2014in the history of our country.”<\/p>\n

Watch<\/a>:\u00a0\u00a0https:\/\/www.commondreams.org\/news\/2017\/12\/15\/trump-just-accidentally-told-millions-working-class-families-truth-about-gop-tax?utm_term=Trump%20Just%20Accidentally%20Told%20Millions%20of%20Working%20Class%20Families%20the%20Truth%20About%20GOP%20Tax%20Plan&utm_campaign=News%20%2526%20Views%20%7C%20Trump%20Just%20Accidentally%20Told%20Working%20Class%20the%20Truth%20About%20GOP%20Tax%20Plan&utm_content=email&utm_source=Act-On+Software&utm_medium=email&cm_mmc=Act-On%20Software-_-email-_-News%20%2526%20Views%20%7C%20Trump%20Just%20Accidentally%20Told%20Working%20Class%20the%20Truth%20About%20GOP%20Tax%20Plan-_-Trump%20Just%20Accidentally%20Told%20Millions%20of%20Working%20Class%20Families%20the%20Truth%20About%20GOP%20Tax%20Plan<\/a><\/p>\n

Even if it was just a slip of the tongue<\/a>, Trump’s characterization of the GOP tax bill as the “biggest tax increase” in American history is accurate, according to some analysts.<\/p>\n

As\u00a0The Intercept<\/em>‘s Ryan Grim\u00a0noted<\/a>\u00a0in an analysis earlier this month, the GOP tax bill is “routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: On net, it would reduce the amount of taxes collected by the Treasury by about $1.5 trillion over 10 years.”<\/p>\n

However, “that figure masks the eye-popping scale and audacity of the GOP’s rushed restructuring of the economy,” Grim adds. “[The bill,] properly described, is two things: the largest tax cut\u2014and also the biggest tax increase\u2014in American history.”<\/p>\n

This tax increase, as\u00a0research<\/a>\u00a0by the Center on Budget and Policy Priorities (CBPP) has found, would primarily be shouldered by low-income and middle class Americans. Additionally, while the GOP bill would give corporations permanent tax cuts, many of the cuts for middle class and low-income Americans would expire after a decade.<\/p>\n

As\u00a0Common Dreams<\/em>\u00a0reported<\/a>\u00a0on Wednesday, House and Senate Republicans reached a backroom “deal” that tilts the benefits of their bill even further toward the wealthiest Americans by reducing the top marginal tax rate from from 39.6 percent to 37 percent.<\/p>\n

“Overall, in 2027\u2014when only the corporate tax cuts, slower inflation measure, and individual mandate repeal would remain in place\u2014the Senate bill would, on average, raise taxes or reduce federal expenditures for households with incomes below $75,000 by about $60 billion\u2014while still giving large tax reductions (through its corporate tax cuts) to those at the top,” noted CBPP’s Chuck Marr.<\/p>\n

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