Friday, December 8, 2017

Fact checking claims about the tax bills

From Fact Check:

Dump claims the tax plans will raise his taxes. Not true, as several provisions reduce his taxes, e.g., "changes to the estate tax, the tax rate on pass-through business taxes and the alternative minimum tax."

There will be both tax increases and decreases for the middle-class depending on a number of factors. See the link for the specifics.

There should be modest job increases over the next 10 years, but at a big cost to the debt. 

The estate tax repeal indeed only affects the most wealthy. Previously the estate tax affected about about 5,000 people.

The claim that middle class wages will increase by $4000 is a pipe dream which presupposes a 3-5% GDP growth rate, an unrealistic projection.



No comments:

Post a Comment

Note: Only a member of this blog may post a comment.