The rich get richer and the poor get children

Trump’s tax plan – massive tax cuts for the 1%, tax raises for single parents. Populist uprising!

“The Trump tax plan is heavily, heavily, skewed to the most wealthy, who will receive huge savings,” said Lily Batchelder, a law professor and tax expert at New York University. “At the same time, millions of low-income families – particularly single-parent households – will face an increase.”

Batchelder, who wrote an academic paper on Trump’s tax plan published by the Urban-Brookings Tax Policy Center, said that the president-elect’s plan “significantly raises taxes” for at least 8.5 million families, with “especially large tax increases for working single parents”. More than 26m individuals live in those families.

According to Batchelder’s research Trump’s tax changes – taken at their “most conservative” – could leave just over half of America’s nearly 11m single-parent households facing an increased tax burden. This figure rises to 61% – or 7m households – if the analysis is run on “reasonable assumptions” that the changes Trump has suggested go ahead.

Single-parent families would suffer the most because Trump would lower the minimum of tax-free earnings to $15,000 per adult no matter how many children in the household. Under current law the threshold is $17,400 for single-parent families with one child and $24,750 for a couple with one child, and the threshold increases by $4,050 for each additional child.

He wants to raise taxes on people who make over 15k and lower them on billionaires.

What a mensch.


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