Politics

For some in middle class, Trump plan would mean tax increase

Written by Teunis Felter

President-elect Donald Trump’s proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They’d pay more. Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center found. And while middle-class families as a whole would receive tax cuts of about 2 percent, they’d be dwarfed by the windfalls averaging 13.5 percent for America’s richest 1 percent. Trump’s campaign rhetoric had promoted the benefits of his proposals for middle-income Americans. The tax hikes that would hit single parents and large families would result from Trump’s plan to eliminate the personal exemption and the head-of-household filing status. These features of the tax code have enabled many Americans to reduce their taxable income.

http://www.foxnews.com/politics/2016/11/27/analysis-for-some-in-middle-class-trump-plan-would-mean-tax-increase.html

About the author

Teunis Felter

Teunis Felter has over 20 years experience as an author, editor, and scientist. When not exploring outside, he enjoys reading history, researching genealogy, and civilly discussing politics.