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How to Talk to Your Family About the #TrumpTaxScam This Thanksgiving


#1

How to Talk to Your Family About the #TrumpTaxScam This Thanksgiving

Chad Bolt

When your crazy right-wing uncle starts spewing lies between the main course and dessert, here a few key facts to keep in mind


#2

My right wing relatives don’t care what Trump does…their support for him derives solely from their hatred of all things Clinton and Obama and there is nothing Trump could do or not do that would result in losing their support. There is no logical discussion to be had.


#3

The biggest lie - the one believed by Americans of all stripes - is that you can have your cake and eat it, too.
So with its variant, the lie that government is inherently ‘wasteful’ or ‘inefficient’.

The cake lie has created a completely irrational hatred of taxes, even though no nation could possibly provide the kind of infrastructure we need for a civilized existence. The war cry should be about fair taxes, but it’s intentionally drowned out by raging about how the “gubmint is stealing my hard earned cash” (while ignoring the criminal waste on the unbelievably bloated military).

And the ‘wasteful government’ lie has been cultivated to create an excuse to move services to for profit enterprises (which obviously put profits over service), instead of focussing on good government which works quite well in many civilized nations.


#4

Here’s another similar but shorter summary of split among income levels of 2019 and 2027 federal tax decreases or (increases). Source: Same data used by Mr. Bolt

---------------------------------------------2019 Decrease (Increase)------------2027 Decrease (Increase)
---------------------------------------------In Federal Taxes: Millions$-----------In Federal Taxes:Millions$
-----------------------------------------------Amount---------% Share----------------Amount---------% Share

Less than $10,000 to 50,000--------$14,258-------------5.9%-----------------($23,281)---------87.8 %
$50,000 to $100,000-------------------$43,902-----------18.3%-------------------($3,234)--------12.2%

SUBTOTAL-------------------------------$58,130-----------24.2%------------------($26,515)----------100 %

$100,000 to $200,000------------------$64,130-----------26.7%--------------------$3,918-----------24.6%
$200,000 to Over $1 Million---------$117,800-----------49.1%-------------------$11,986-----------75.4%

SUBTOTAL------------------------------$181,930-----------75.8%-------------------$15,904------------100%

Total All Taxpayers---------------------$249,090----------100%-------------------($10,611)

The ‘Big Picture’ message is clear : middle class 2027 income taxes INCREASE substantially for the $ 0 and $100,000 income brackets - comprising over 60% of households … while 2027 income taxes DECREASE substantially for the $100,000 to $200,000 and $200,000 to over $1 million income brackets!

The Republicans can’t escape their long held ideological obsession of class division by enriching the rich based on the phony “trickle down theory” - while creating a $1.5 trillion increase in the federal deficit over coming decade. And the U.S. wealth gap expands to ever more financially dangerous and socially obscene levels in concert with the ongoing vast, extremely rapid technological elimination of jobs (computerization, digitilization, robotization, artificial intelligence. Most EU countries are already positioned to better survive latter rends absorb latter with their progressive marginal tax rates averaging around 51% on annual incomes above $85,000 (vs. U.S. 39.5% rate on incomes above $400,000).


#5

Frank Thomas, I studied your post for more than five minutes, and devoted at least that much time to the Chad Bolt article. Both are incomprehensible to me, both in the texts and the charts. I could attribute this to dementia, but really, I think the vast majority of Americans would share my experience.

Someone should compile a list of taxpayers – individuals and families – with different income levels, work out the federal income tax to be paid for 2017 without the proposed “Tax Scam,” and re-calculate the tax that would have been paid if the TS were in effect for 2017. For each listed taxpayer, the differences in the amount of federal income tax would be graphic. Unfortunately, the list might be long. But it would be easy to see the effect of the TS on each taxpayer. Some taxpayers live in states where state deductions play a major role. Taxpayers with similar incomes, but living in states where such deductions make a difference, could be listed by state. With regard to the automatic future expiration of the TS, the same process could be used to show what the result would be if the automatic expirations aren’t prevented.


#6

Charles Manning,

You are correct the information is difficult to comprehend on this complex
subject. My aim was NOT to go into detail supporting data, but rather to
only give an overall much condensed “Big Picture” that simply dramatizes
how the Trump plan total tax reductions or increases are shared among the
different income groups. Trump’s tax plan is a SCAM or gross DISTORTION
when he claims it focuses mainly on helping the middle and lower classes.
My data is the same source data produced in far more detail by the Joint
Commission of Taxation and also used by Mr. Bolt. Below is an extended
edited version of my simplified “Big Picture” summary that you perhaps
might find more helpful .

Thanks for your thorough to-the-point critical response! Other published
analyses have gotten into the more specific state and individual details
you talk about.

Frank Thomas


#7

Charles Manning,

I can’t share yet my extended version with you on the CD blog. But it will be published soon. And then I shall send you a link to my writing.


#8

Frank Thomas, your response is appreciated. You say, “Other published analyses have gotten into the more specific state and individual details.” Can you tell me how to access them? Do they present the information in the manner I suggested earlier?

Forget about what Trump says. It’s obvious, due to many examples that everyone can understand, such as the inauguration crowd, illegal voting in the presidential election, the birther matter, wiretapping of Trump Tower, etc., that Trump’s claims must be taken with many grains of salt. But some folks with much greater credibility are advocating the tax proposal(s). I think this is one of the most important issues to come up in years. I tend to believe the critics who decry the Republican plan(s). But unless millions of Americans receive a more persuasive account of how the proposals would exacerbate wealth inequality, the Republicans may be able to enact them.


#9

Charles Manning,

Besides the JCT report, one other credible, thorough analyses of Trump’s
Tax Reform Plan I’ve reviewed is by the nonpartisan Tax Policy Center:

Google: “Distributional Analysis of the Tax Cuts and Jobs as Passed by the
Senate Finance Committee,” by Tax Policy Center

http://www.taxpolicycenter.org/publications/distributional-analysis-tax-
cuts-and-jobs-act-passed-senate-finance-committee/full


#10

Charles Manning: for some reason the automatic link does not work for me on this source article coming from the Netherlands. So please use my Google link.


#11

Charles Manning,

As promised, here is copy of my extended “BIG PICTURE” paper on Republican
tax plan bill that was approved by the Republican Senate Finance
Committiee. A bill that obviously transfers most of the initial tax
benefits to the top 10% income earners and corporations by 2027. As I’ve
attempted to highlight, the tax plan as it now stands produces an extremely
high risk of greatly magnifying federal deficits and debt well beyond
currently estimated $1.5 trillion deficit increase from the Republican tax
plan cuts - while further exploding an already obscene societal income
/wealth GAP that has been been shifting our representative democracy to an
oligarchy. America has become a plutocracy, and money rules our politics.
Sadly, things will have to get much WORSE before people WAKE UP!

Here’s link to my writing:

http://www.californiafreepress.net/will_blog_for_food/2017/11/jcts-
disturbing-analysis-of-trump-senate-tax-bill-shows-how-
benefits-end-up-primarily-in-pockets-of-.html

Frank Thomas


#12

Charles Manning,

If above link doesn’'t work, simply Google:

California Free Press: JCT’s Analysis of Trump Senate Tax Bill Shows How Benefits End Up Primarily in Pockets of the Wealthy.


#13

I was able to get the web page up using the link. Will study it when I have time. Thanks!