EDITORIAL: When Trump talks big tax cuts, California’s middle class should check its wallets
While some details remain to be worked out, what has become public suggests there would be a windfall for the wealthy and precious little for the middle class. What's known is more than enough for the vast majority
Rep.
Also on the chopping block is the deduction for local and state taxes, which is far more important in high-income states, as Govs.
In 2015, nearly 6 million
Brown wrote Wednesday to
Sen.
"This action is bad enough on its face, but to raise taxes on families in order to drastically cut taxes for the richest Americans is unconscionable," Feinstein said in a statement.
Trump and
The Trump-GOP blueprint would also do away with the alternative minimum tax, put in place in 1970 after outrage that rich people used loopholes to avoid paying any federal income taxes.
And while the standard deduction would be doubled -- to
Overall, the top 1 percent of income earners in
The working
Maybe the details of the tax plan will turn out to be somewhat more beneficial to working and middle-class Americans than it now appears. And maybe Trump -- who is promising the biggest tax cut ever -- will tone down the hyperbole and help negotiate a fairer, bipartisan plan. Neither is likely to happen.
Instead,
Of course, Trump and
All 14 California Republicans in the House voted Thursday for the budget bill. Now they have a choice -- kowtow to Trump, rich people and corporations, or look out for the vast majority of their constituents.
House Minority Leader
She is urging fellow
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