Donald Trump Goes After the Upper Middle Class Vote

[TomCADem]

http://m.motherjones.com/kevin-drum/2016/08/donald-trump-goes-after-upper-middle-class-vote

Who benefits most from this? Answer: the upper middle class. If you're poor, a tax deduction helps very little because your child-related expenses are low (thanks to being poor) and your tax rate is 10 percent or less, so you get to write off a pittance at most. If you're rich it doesn't help much because it's chump change. But if you're in the upper middle class, it's great. Your tax rate is probably around 20-30 percent, so you can write off a fair amount, and it's a meaningful sum of money. So it's great for all the lawyers and doctors out there.

[democrattotheend]

1. In theory, I am not opposed to tax relief for the upper middle class

The upper middle class, while clearly fortunate compared to the lower or lower middle class, end up paying the most in taxes because they make enough to be in high tax brackets but not enough to have all kinds of fancy accounting tricks to avoid paying taxes. It is especially unfair for people in high cost areas with incomes that are considered upper middle class for federal tax purposes but are really just middle class for that area.

That said, I think the rest of Trump's plan is utter garbage, especially the part about repealing the estate tax.

[TomCADem]

2. Why not just offer a tax credit?

That way middle class and working class families can benefit? The tax deduction provides nothing to those who need it most.

[randome]

3. Did the author accidentally smoosh two titles together?

Maybe #1 was: "Donald Trump Goes After The Middle Class". And #2 was: "Vote".
[hr][font color="blue"][center]Meredith McIver approves of this post.[/center][/font][hr]