Betraying his campaign promises by selling out the middle class – and now helping kill and outsource American jobs
Donald Trump’s tax plan is the culmination of his economic record to date – a record that is defined by hypocritically working to sell-out the American middle class.
The one constant of every major economic priority of the Trump Administration and Republicans in Congress has been to put the middle class last – on taxes, on healthcare, and on financial regulation – and to put the richest, most well-connected individuals first.
Like the rest of the Trump Administration’s economic policies, this tax plan puts the richest Americans first and middle class last. It’s the opposite of what Trump promised on the campaign trail last year.
Experts are warning that Trump’s tax plan would increase incentives for the outsourcing of good-paying American jobs and further rig the economy for the rich, wealthy CEOs, and Trump himself.
Not only that, but Wall Street investors are betting that Trump’s tax plan will drive more corporations to invest in automation in order to “reduce labor costs over time” – in other words, to kill jobs.
The facts are clear. Trump’s tax plan would:
Give incentives for outsourcing American jobs.
Benefit the rich at the expense of everyone else. 80% of the cuts in Trump’s tax plan go to the wealthiest 1% of American taxpayers.
Increase taxes for the middle class. Nearly one in five households earning between $50,000 and $150,000 would see their taxes rise immediately.
Remove deductions that benefit working families. Millions of working families would pay more in taxes, as key middle class tax deductions are eliminated.
Benefit CEOs and their shareholders instead of creating jobs. Fortune 500 CEOs are already saying they won’t use the savings to create new jobs, but rather to pay their shareholders more.
Trump has abandoned the promises he made to champion struggling Americans, and has instead promoted the interests of the rich, Wall Street, and himself. And that shows the same twisted priorities as the rest of his anti-middle class economic record.