Second-Term Trump Will Help Cut Social Safety Net - Even If HE Never Cuts It

Here's what "the party of the working class" intends to do to the tax system:

Republicans in Congress are preparing to not just extend former president Donald Trump’s 2017 tax cuts if they win control of Washington in November’s elections, but also lower rates even more for corporations....

The Tax Cuts and Jobs Act (TCJA) lowered rates for individuals of nearly all income levels, though it cut taxes most for the highest earners, and slashed the maximum corporate tax rate from 35 percent to 21 percent. The individual portions of that law expire in 2025, but Republicans who wrote the law made the business tax cuts permanent.

Now GOP lawmakers and some of Trump’s economic advisers are considering more corporate tax breaks — which could expand the national debt by roughly $1 trillion over the next decade, according to researchers at Stanford University and MIT....

That $1 trillion is in addition to the cost of extending the 2017 tax cuts. Brookings says:

read more