Don’t be duped: Trump, Republicans want to raise your taxes

first_imgAt some point, the government will need to pay its bills, through a combination of tax increases and spending cuts.Virtually any future deficit-reduction plan — except for a repeal of the Trump tax plan — would hurt most families more than his plan helps them.This chain of events has happened before.The Reagan and Bush tax cuts may have at first seemed to help the middle class and poor.But the deficits led to later cuts in education, medical research, transportation and anti-poverty programs that almost surely erased the benefits of a modest tax cut.Already, today’s congressional leaders are talking about sizable cuts to Medicare and Medicaid.Trump and his allies are feverishly trying to claim their plan really would benefit the middle class. Last week, a precursor bill barely passed the House, receiving 20 no votes from Republicans, many worried about the tax increases.Republican leaders certainly have a path to passing a tax bill, because nothing unites modern Republicans the way a tax cut does.But the opposition to the recent health care bills also started as an underdog and managed to prevail, by relentlessly talking about the bills’ effects.When enough Americans understood the truth, enough members of Congress felt pressure to vote no.The same could happen on taxes. It is starting to.Recent polls suggest the plan’s approval rating is only about 30 percent.To understand the Trump tax increases, you should first acknowledge the most admirable feature of his plan. It doesn’t aspire to be merely a tax cut. Trump’s plan would not actually cut taxes for many middle-class families. It would raise them.These families are in the minority, yes. But there are a lot of them.About 17 percent of households earning between $50,000 and $150,000 would see their taxes rise immediately, according to the only rigorous analysis so far, by the Tax Policy Center.Among households earning between $150,000 and $250,000, the share is about 35 percent.These numbers would grow over time, for reasons I’ll explain.Ultimately, the plan would be likely to hurt the finances of the vast majority of Americans.No wonder it is starting to look politically vulnerable. It aspires to be tax reform — both cuts and increases. Some deductions shrink, while rates fall, in the name of simplifying the tax code.But after this promising start, the plan commits its cardinal sin.It places the highest priority on huge tax cuts for the very wealthy.They get lower rates and get to keep cherished tax breaks, like the “carried interest” loophole.Herbert Hoover’s Republican Party wanted to put a chicken in every pot. Donald Trump’s wants to put a yacht at every private dock.Having lavished so much money on the wealthy, the tax package — or at least the vague framework that the administration has released — doesn’t have much remaining to spend on middle class and poor families.For them, the package is a mix of pluses and minuses. Their latest talking point is the notion that corporate tax cuts will create an indirect windfall for workers.Funny, though, how the wealthy get most of the direct benefits, while everyone else has to hope for indirect ones somehow to materialize.The main lesson of this year’s health care battle was the political power of facts.They don’t always win the day, but it’s better to have them as an ally than an enemy.Right now, facts are the biggest problem for Trump’s tax plan.David Leonhardt is New York Times columnist writing from a liberal progressive perspective. More from The Daily Gazette:EDITORIAL: Beware of voter intimidationEDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Thruway tax unfair to working motoristsFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Find a way to get family members into nursing homes Many face a lower tax rate, but some face a higher one, and many families lose deductions. The combination creates a lot of losers.Reduced deductions for children, for example, hurt large families, notes NYU’s Lily Batchelder.And the deduction for state and local taxes — also a target for cuts — now benefits 30 percent of households nationwide.It was the main reason for last week’s House defections, and the tensions over it haven’t been resolved.Then there are the long-term problems I mentioned earlier.First, Trump’s plan takes a skimpy approach to inflation adjustments, which will push many families into higher tax brackets over time.Second, the plan would radically increase the federal deficit, and when it comes to the deficit, what goes up must eventually come down. Categories: Editorial, OpinionThe old formula for passing a big tax cut for the rich was simple: Package it with a modest tax cut for the middle class — and talk endlessly about the middle-class part.President Donald Trump and Congress are following the formula in some ways.Their plan would deliver an average tax cut of $700,000 to the nation’s 175,000 richest families. That’s enough for each to buy a new 50-foot yacht, annually.Meanwhile, Trump and other Republican leaders keep repeating “middle class,” “middle class,” “middle class.”Yet there is also a major difference between the current plan and George W. Bush’s tax cut or Ronald Reagan’s.last_img read more

Dale E. Lamping

first_imgDale E. Lamping, age 54 of Moores Hill, died Friday, July 17, 2020 at St. Elizabeth Hospital in Ft. Thomas, Kentucky. Born February 27, 1966 in Lawrenceburg, Indiana, he is the son of Mildred (Nee: Sturwold) and Herbert Lamping. He married Leisa Bruns October 22, 2017 in Moores Hill. He was a meat cutter for the Kroger’s store in Lawrenceburg.Although his family described him as a homebody, Dale had several interests. He often golfed three days a week, although in his case, frequency apparently didn’t translate into skill. Dale also loved weekly poker games and was an avid fisherman, who enjoyed others joining him. Not really a traveler, he did look forward to trips with family or going to visit family and loved his children and grandchildren.He is survived by his wife Leisa; daughter Heather (Tyler) Wilson of Milan; son Brad (Brittney) Lamping of Versailles; step daughters Deborah (Steven) Nies of Harrison, Ohio, Nichole (Dillian) Chatar of Navarre, Florida; step son Jerry (& companion Cynthia) Fryer of Milan; parents Mildred and Herb Lamping of Batesville; sisters Sharon (Nick) Doll and Barb (Terry) Flodder, both of Batesville; brother Brian (Kelly) Lamping of Guilford, Indiana; two grandchildren and three step grandchildren. Visitation for the public is Wednesday, July 22nd, from Noon until 2 p.m. at the funeral home. Social distancing must be observed and the family requests masks be worn. A private service will be held at 2 p.m. for immediate family only, due to the social distancing mandate restrictions. The service will be live streamed for everyone and can be viewed by going to Dale’s obituary page on our website (www.weigelfh.com) and clicking on the link. Following services, Dale’s wishes are to be cremated. The family requests memorials to the Gibault Children’s Services (formerly Gibault School for Boys).last_img read more