Unless you’ve been living under a rock, you’ve already heard that President Trump has proposed quite the tax cut, and not just any tax cut. The Donald has proposed “the biggest cut in history.”
And with the mere mention of tax cuts emanating from the White House, Mick Jagger and Keith Richards very well may have proven themselves as Rock ‘n Roll prophets. After all, liberals are certainly salivating like a Pavlov dog.
While the Trump Tax plan certainly does offer massive cuts, the Left still drones on with the mantra of “the rich have to pay their fair share”. Unfortunately for the liberals, reality certainly isn’t their forté.
As cited below, the National Taxpayers Union has the hard numbers as far as who it is exactly that’s pumping money into the federal coffers under the current taxation rates.
While the NTU has broken it down Big Bird-style so even the simplest Womyn’s Studies grad student can comprehend exactly what the rich pay, many of their ilk still don’t get it.
As noted by the everything-financial news site Zero Hedge, the Trump plan scratches the current seven tax brackets down to a mere three; top earner 35 percent, corporations 25 percent, everyone else, 10 percent.
Amazingly enough, Democrats have yet to connect those getting the biggest cut in taxes are the middle class and working poor.
Currently, the top marginal income tax rate for the highest earner is at 39.5 percent, whereas under under Trump it would be dropped to 35 percent, a dip of barely an eighth.
When it comes to corporate taxes, ranging from Ford Motor Company to Luigi’s Pizzaria down on the corner, the United States has one of the highest corporate tax rates on the planet – a job killing 38.92 percent. Under Trump, it would be cut to 15 percent, a drop of more than half.
Regarding the three filing statuses of Single Filers, Married Joint Filers, and Head of Household Filers they vary significantly. For illustration purposes, a married couple filing jointly with a combined income of between $151,900 to $231,450 (not unheard of for say, a married police officer and nurse living in NYC, LA or Chicago), they would see their tax rate of 28 percent drop to 10 percent. A significant decrease of nearly two thirds.
In spite of Nancy Pelosi, Chuck Schumer, Bernie Sanders and the vast majority of the Establishment Media slamming the Trump Tax Plan, not a single prominent liberal has vowed to remain at the current (and significantly higher) tax rate.
But as a public service, for those who would pump some of their extra folding green to the feds, here’s the mailing address;
Write a check payable to the Bureau of the Fiscal Service. In the memo section, please notate that it’s a gift to reduce the debt held by the public.
Mail your check to:
Attn Dept G
Bureau of the Fiscal Service
P. O. Box 2188
Parkersburg, WV 26106-2188
— New York Post (@nypost) April 27, 2017