Thursday, October 19, 2017

Trump's tax fantasy

Robert Reich
10.16.2017

Today the Trump administration is rolling out an analysis that supposedly shows his tax plan would boost middle-class incomes because – wait for it – corporations will pass their tax savings on to workers.

This is rubbish. A 2012 analysis from the Treasury’s Office of Tax Analysis found that shareholders pay 82 percent of the corporate tax and workers pay only 18 percent. So a big corporate tax cut will overwhelmingly help shareholders, who are overwhelmingly in the top 10 percent of incomes.
But Trump’s Treasury Department has yanked the 2012 economic report. A Treasury spokeswoman says “it does not represent our thinking and analysis.”

It's another example of “alternative facts,” made up to mask policies that will benefit the rich pretending to be policies that will help Trump’s working class voters.

Source
https://www.facebook.com/RBReich/?hc_ref=ARSuEakI4-nf2-GF4V0kI7mCpfykK9WoLn3EKcZTbe0RFOHSB0L7p9eHh_Dj6YZaW-8&fref=nf

No comments: