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

Rooney uncertainty impacts England

first_img United boss David Moyes has repeatedly insisted Rooney is not for sale after Mourinho expressed his admiration for the striker last week on the Blues’ arrival in Bangkok. Rooney, who was left out of key games for United last season by Sir Alex Ferguson, departed Bangkok as Chelsea arrived in Thailand after a hamstring injury ruled him out of the tour of Asia and Australia. Press Association Chelsea manager Jose Mourinho has suggested the uncertainty over Wayne Rooney’s position as a starting player for Manchester United could have implications for England and international boss Roy Hodgson in World Cup year.center_img “If Wayne is a second choice for Man Utd, then the national team will be affected,” Mourinho told BBC Sport. last_img read more

The Latest: Paris Saint-Germain reports 2 player virus cases

first_imgThe French champion cites a “reassuring” state of health for the players, who were not identified. They are said to be following the required health protocols.Eight days after losing the Champions League final to Bayern Munich, PSG is not due to start the French season until Sept. 10.The French league granted PSG’s request for extra days of rest, and the team’s scheduled opening game at Lens was postponed until next week.___Iowa State will allow about 25,000 football fans into Jack Trice Stadium for the Cyclones’ opener against Louisiana-Lafayette on Sept. 12. In a statement Monday, the school said the decision was due to a “depleted roster, the combination of injuries and not all members of its roster returning to Raleigh this semester.” It said N.C. State has notified the Atlantic Coast Conference of its decision.Players will continue to train with a focus on playing in 2021, or for spring competition if that becomes an option.___Champions League quarterfinalist Atalanta says three of its players have tested positive for the coronavirus.The Serie A team says in a brief statement that all three players show no symptoms after the preseason tests and have been isolated. Associated Press August 31, 2020 Reserve goalkeeper Marco Sportiello was the only Atalanta player who tested positive during the lockdown.The Italian league starts on Sept. 19. ___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sportscenter_img The Latest: Paris Saint-Germain reports 2 player virus cases Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Paris Saint-Germain says two of its players are suspected of being infected with COVID-19. Athletic director Jamie Pollard wrote in a letter to fans on Monday that the crowd will be made up of season ticket holders only. Fans will be required to wear face coverings at all times and no tailgating will be allowed. Pollard asks that fans respect others’ wishes for physical distancing.“An important factor in the decision to allow fans is our belief that Cyclone fans are willing to adhere to our mitigation measures,” Pollard wrote. “The purpose of this letter is to ask for your support in helping create a safe environment while also providing our team an impactful home field advantage. This is an incredible opportunity for Iowa State University to showcase its ability to successfully navigate the challenges associated with large outdoor events during a pandemic.”Pollard said if mitigation actions are successful, Iowa State will allow season ticket holders to attend the game against Oklahoma on Oct. 3. He said if it’s determined mitigation measures were not followed adequately at the first game, no fans will be allowed the rest of the season.___North Carolina State says its women’s soccer team won’t play this fall.last_img read more