Dueling tax plans

[Rewind]

Giving huge tax cuts to banks, big corporations and the wealthiest Americans (including Donald Trump) will be "like rocket fuel to boost the economy," declared Trump in December 2017. As 2019 nears its end, Trump's lie is obvious. His "rocket" crashed. During the past two years, private investment declined, wages rose only 1.4% (less than one-tenth of what Trump promised), the number of new jobs created fell by an average of 11,000 per month and a majority of the big corporations spent their tax savings on stock buybacks. But, hey, the rich (including Donald Trump) got richer! #Winning

After two years, Trump's tax cuts have failed Americans

https://www.cnn.com/2019/12/20/persp...uts/index.html

[Rewind]

In December 2017, Emperor Trump made eight promises about his tax plan: The middle class will benefit, the wealthy will not benefit, working families will get a raise of $4,000, small businesses will get a huge tax cut, job growth will accelerate, business investment will increase, the economy will grow by 6% annually and the tax cuts will pay for themselves. Trump proceeded to give huge tax cuts to banks, big corporations and the wealthiest Americans (including himself). How many of those promises came true? None. But, hey, you don't hear the banks, the big corporations and the wealthiest Americans (including Trump) complaining!

Opinion: The Trump tax cut has amounted to nothing but broken promises for the middle class

https://www.latimes.com/opinion/stor...ax-cut-deficit

[Rewind]

Republicans used to be fiscally conservative. Republicans used to care about the middle class. We no longer have Republicans. We have Retrumplicans – and they do not care about the middle class. They care about banks, big corporations and the wealthiest Americans. Under Retrumplicans, the rich got richer and the poor got poorer.

Trump's estate tax giveaway to the rich triggered 50% drop in IRS revenue
HuffPost, Nov 20 2021 11:24 PM EST

As Republicans bellyache about Democrats not balancing the budget, a new report reveals that a massive Trump administration estate tax giveaway that particularly served the ultra-rich sparked a 50% plunge in IRS revenue from the taxes. Estate tax payments dropped from $20 billion to just over $9 billion last year, Bloomberg reported, based on its analysis of IRS data. American billionaires, meanwhile, have doubled their collective net worth to more than $5 trillion in just over five years. The dramatic decline in estate tax revenue is largely the result of the Republicans’ 2017 tax overhaul, which doubled the amount the wealthy can pass to heirs without paying any estate tax.

https://www.huffpost.com/entry/estat...b07fe2010cb159