Not Everyone in the Middle Class Will Like Trump's Tax Plan

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Not Everyone in the Middle Class Will Like Trump's Tax Plan

Nov, 30th 2016

President-elect Donald Trump's proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They'd pay more. Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center found. And while middle-class families as a whole would receive tax cuts of about 2 percent, they'd be dwarfed by the windfalls averaging 13.5 percent for America's richest 1 percent. Trump's campaign rhetoric had promoted the benefits of his proposals for middle-income Americans. "The largest tax reductions are for the middle class," said Trump's "Contract With the American Voter," released last month. The tax hikes that would hit single parents and large...

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