|
John,
A new report from the Institute on Taxation and Economic Policy (ITEP) has analyzed how much Donald Trump's proposed tax policies could worsen inequality.
The nonpartisan ITEP study found that Trump's tax plan would, on average, raise taxes on 95% of Americans while delivering massive windfalls to the wealthiest.[1] Specifically:
-
The poorest 20% would see an average tax hike of $790
-
The middle 20% would face a $1,530 average tax increase
-
The richest 1% would enjoy a $36,320 tax cut
The study reveals that Trump's proposed 20% tariff on imports (60% on Chinese goods) would function as a highly regressive national sales tax, costing the poorest families nearly 6% of their income while the rich would pay just 1.4%.
The American people deserve to know how nationally proposed policies would impact their wallets and our economy. Yet, cable news networks are largely failing to cover this critical analysis with the urgency and depth it demands.
We can't let this vital information go uncovered. Join us in demanding CNN, Fox News, MSNBC, and other major cable news outlets give this bombshell report the coverage it deserves.
The report shows that Trump's tax plan could add a staggering $15 trillion to the federal debt over the next decade.[2] This could threaten inflation, higher interest rates, slower growth, and higher costs for future generations.
The bottom line is we need in-depth reporting on who national tax proposals benefit—the wealthy, or middle and working-class families.
Call on cable news networks to cover this important tax analysis and educate the public on its findings.
Together, we can ensure voters have the facts about how these tax proposals would affect their families and our economy. Thank you for taking action on this critical issue.
David Kass
Executive Director
Americans for Tax Fairness Action Fund
[1] A Distributional Analysis of Donald Trump's Tax Plan, Institute on Taxation and Economic Policy
[2] Trump's Plans Could Increase U.S. Debt While Raising Costs for Most Americans
|
