Trump’s “Reverse Robin Hood” Tax Plan


Image result for trump tax cuts funny

New York Magazine reports that Trump accountants committed a $2 Trillion basic arithmetic error.  By way of explanation they report that the Trump budget assumes $2 trillion in higher revenue from growth in order to achieve balance of the budget after ten years.  That’s like saying I’m saving Ten Thousand Dollars when I buy the diamond ring I want for $50,000, because I’m going to make $60,000.00 per year 10 years from now.  The truth is that Trump didn’t make a mistake, he simply said what he knew people wanted to hear. Ronald Reagan and George W. Bush failed to come anywhere close to doing what Trump said he could do.

Image result for trump tax cuts funny

Trump’s blueprint for the 2018 budget year comes out today.  It’s not a mistake that Trump is out of the country when this plan comes out.  His plan includes a wave of cuts to benefit programs such as Medicaid, federal employee pensions, welfare benefits and farm subsidies.

Trump’s plan includes cuts to pensions for federal workers and higher contributions toward those pension benefits, as well as cuts to refundable tax credits paid to the working poor.

Cuts include a whopping $193 billion from food stamps over the coming decade — a cut of more than 25 percent. The program presently serves about 42 million people.

Huge cuts to food stamps part of Trump’s budget proposal

However the good news is that, even with a Republican dominated Congress, Trump may not be successful in getting his tax plan through Congress.  Senate rules essentially require 60 votes to pass most legislation, and the Republicans control only 52 seats. Some laws can pass with only a majority, but they must be deficit-neutral, which Trump’s tax outline is not.

Image result for reverse robin hood

It’s a “tanks and tax cuts” budget.  The attack on the poor is incontrovertible.  Trump’s budget includes:

  1.  Cuts to Medicaid (Over $600 billion in the next decade)
  2. Cuts to food stamps, known as SNAP ($193 billion over 10 years)
  3. Cuts to student loans ($143 billion over 10 years)
  4. Cuts to federal worker retirement programs ($63 billion over 10 years)

Disability programs also get a massive cut.  Advocates for the poor are stunned at the magnitude of the cuts.  It’s areverse Robin Hood agenda, says the Center on Budget and Policy Priorities.  “The majority of the benefits go to high-income people.”  All the top tax rates on businesses and individuals go down.  Trump is giving rich investors (who earn over $200,000 a year) a tax break while half of America has nothing invested in the stock market, mostly because they don’t have extra money to invest.

Arguably the biggest gift to the rich is eliminating the estate tax. Right now, it only applies to estates worth over $5.5 million, but Trump wants to get rid of it entirely.

 

The amazing thing is that a substantial number of people on government aid are the very people who voted for Trump.

Image result for trump tax cuts funny

Seven of the top 10 states with the greatest proportion of their residents on food stamps went for Trump. The critical swing state of Florida was among them.

In addition to food stamps, Trump also slashes Social Security Disability Insurance, a core program to help people who are physically unable to work, and Temporary Assistance to Needy Families, a key welfare program.

Image result for trump tax cuts funny

 

 

7 thoughts on “Trump’s “Reverse Robin Hood” Tax Plan

Add yours

  1. Maybe the next time the Democrats will be pro gun rights. Maybe the next time the Democrats will run a man for president and vice president. Maybe the next time they will not support a Federal mandate for health insurance. Maybe the next time they will not sign into law the FISA of 2008 after promising transparency.

    Maybe they will stop censoring my post on this website.

    Like

  2. Cyber Gouge

    I will double the rubles promised to you if you hold your breath until that happens.
    The resistant, indivisible people which includes the Dems have a message for you.
    Ty che blad.

    Like

  3. Trump voters are asleep. They have their guns to kill anyone that threatens their ignorance. They have that in common with ISIS.

    Like

  4. Cyber Gouge is, perhaps, a secret tea party member or alt-right or very conservative–who knows? But one thing is sure, s/he is not a progressive nor a Democrat.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: