I wasn't talking about that at all.
But the 35% rate will be paid by nobody with a good accountant, or any shred of intelligence.
The 10% will be paid by everyone in that bracket.
The 25% will be paid by everyone who rents. Pretty much the vast majority of the middle class.
My biggest problem is that Trump and his buddies will make a fortune with this tax plan. Meanwhile, it will add trillions to the debt.
The middle class will not get a raise. It will not create more jobs. This has been cannon since the 80's.
It's amazing how you're still clinging to that ridiculous notion that Trump is only proposing this plan to help himself and his buddies.
The plan eliminates the AMT, which was originally intended to ensure the rich paid their taxes, but was never adjusted for inflation (since 1969), so many middle class people now (including myself) have been affected by it.
The standard deduction is also doubling, which is great news for lower and middle class Americans. This means that anyone earning less than $30k will essentially pay zero taxes. Likely the same for filers earnings less than $60k. With no AMT and the double standard deduction, plus child care credits, low and mid income families may even see MORE in their refunds than they actually paid in taxes.
Also, most of the common deductions used by the wealthy will be rescinded. That includes most of the following:
So you ask who will pay for these tax cuts? Just look at that list and add up how much the government had to pay back because of all those loopholes and deductions.
You also keep touting the lower corporate tax as a bad thing. Why? If your company pays less in taxes they're going to use the money to reinvest in the company. People like you just assume they'll just give themselves bonuses, which is utter nonsense, and completely irresponsible from a business standpoint.
I'm also hearing about a one time repatriation tax of 10% on money being parked overseas, which could bring billions back and add billions in lost tax revenue.
Lastly, the tax cuts in the early 80s resulted in a double-digit increase in yearly income for the middle class. Look it up.
So I suggest you focus on the facts and numbers rather than delving into these wild conspiracy theories. Also, it would help to download the actual budget, details on tax revenue, and then make your own decision given the data. You're smart enough to do that. Why go to some crazy liberal blog and have them regurgitate the data for you in order to fit their crazy narrative?