LOL... Oops. No worries though. They will lie their way through it. Most democrats enjoy being lied to.
https://thehill.com/opinion/finance/513768-who-truly-wants-tax-cuts-for-rich
Democrats continue to attack Donald Trump and Republicans for handing out tax breaks to their wealthy friends and donors. Joe Biden last week at the national convention called Democrats the party for the working class and blue collar Americans. But is that really the case? Let us examine the two leading tax stimulus proposals in front of Congress.
The plan from Trump would cut the payroll tax for the rest of the year. This would provide 140 million low and middle income Americans a 6 percent tax cut and would lower payroll costs for 30 million small businesses. The typical family with an income of around $60,000 would receive a $1,000 pay raise for the rest of the year. Nancy Pelosi said that she opposes this idea, even though she supported this when Barack Obama was president. Trump signed an executive order to at least pause the payroll tax for those who make less than $100,000 during the rest of the year.
Now for the plan from Democrats. The House stimulus bill, which passed earlier this year at a cost of $3 trillion, has one major tax cut. It is a new tax write off that will greatly benefit Bill Gates, Jeff Bezos, George Soros, and other wealthy campaign contributors to Democrats. This plan would reinstate the state and local tax deduction for federal filers.
Under the tax reform signed by Trump, the state and local tax deduction was eliminated above $10,000. As such, the Tax Policy Center, which is hardly conservative, finds that well over half the benefits of the plan from Pelosi would go to the richest 1 percent. The Tax Policy Center calculates that her plan would deliver tax savings of an astounding $10 each year to the typical middle class family.
That is enough to pay for two happy meals for the kids. So the payroll tax cut of Trump targets 100 percent of the money to those with earnings of less than $100,000, and the Democrats give close to 100 percent of the benefit of their tax cut to those who make more than $100,000. Why would Democrats support a tax break for the wealthy that provides virtually no stimulus and that even liberal groups like the Center on Budget and Policy Priorities have denounced as aid for billionaires?
https://thehill.com/opinion/finance/513768-who-truly-wants-tax-cuts-for-rich
Democrats continue to attack Donald Trump and Republicans for handing out tax breaks to their wealthy friends and donors. Joe Biden last week at the national convention called Democrats the party for the working class and blue collar Americans. But is that really the case? Let us examine the two leading tax stimulus proposals in front of Congress.
The plan from Trump would cut the payroll tax for the rest of the year. This would provide 140 million low and middle income Americans a 6 percent tax cut and would lower payroll costs for 30 million small businesses. The typical family with an income of around $60,000 would receive a $1,000 pay raise for the rest of the year. Nancy Pelosi said that she opposes this idea, even though she supported this when Barack Obama was president. Trump signed an executive order to at least pause the payroll tax for those who make less than $100,000 during the rest of the year.
Now for the plan from Democrats. The House stimulus bill, which passed earlier this year at a cost of $3 trillion, has one major tax cut. It is a new tax write off that will greatly benefit Bill Gates, Jeff Bezos, George Soros, and other wealthy campaign contributors to Democrats. This plan would reinstate the state and local tax deduction for federal filers.
Under the tax reform signed by Trump, the state and local tax deduction was eliminated above $10,000. As such, the Tax Policy Center, which is hardly conservative, finds that well over half the benefits of the plan from Pelosi would go to the richest 1 percent. The Tax Policy Center calculates that her plan would deliver tax savings of an astounding $10 each year to the typical middle class family.
That is enough to pay for two happy meals for the kids. So the payroll tax cut of Trump targets 100 percent of the money to those with earnings of less than $100,000, and the Democrats give close to 100 percent of the benefit of their tax cut to those who make more than $100,000. Why would Democrats support a tax break for the wealthy that provides virtually no stimulus and that even liberal groups like the Center on Budget and Policy Priorities have denounced as aid for billionaires?
