Comment by Workaccount2
12 days ago
I don't know what tax plan that is an analysis of, but Trump has stated he wants to eliminate income tax for those under $150k.
I don't know what news source you trust, but if you google it, he stated it back in March.
It's already stated in the source quote. Extending the TCJA.
What he says is almost irrelevant to what he actually does most of the time. He 'says' he wants to lower taxes on the lower income folks, but the tax bill he actually passed was essentially a handout to wealthy and businesses. He 'says' he wants to bring back manufacturing, but the reality is his tariff actions do nothing of the sort.
I admit I had not heard this one. But the first thing I saw on it said:
> According to Lutnick’s interview with CBS News, Trump’s tax policy goal is to remove federal income taxes for individuals earning under $150,000 annually.
(omitted some of the other bullet points around tariff funding and tip exemption)
> While Lutnick later walked back the certainty of these plans, he clarified that the proposal is aspirational and depends on the ability to balance the federal budget.
I have serious doubts about the likelihood of a Trump proposal that even his Commerce Secretary says are "aspirational". Then again, the other part of Trump is that sometimes he does whatever he wants, regardless of what his Secretaries have said or known (witness the tariffs being paused mid hearing, leading to a Republican politician frantically swiping at his iPad in the middle of his testimony about the value of keeping the tariffs despite widespread market uncertainty).
Trump is a populist president. He is the right wing Bernie Sanders. Eliminating income tax for those making under $150k is right wing version of a "Billionaire Stipend" for everyone under $150k. Of course the republican guard is going to downplay the insanity he spews, but here we are with blanket tariffs and China virtually cut off.
Trump and Sanders aren't opposites, they're next door neighbors with a common goal and mostly superficial disagreements like whether tax cuts or stimulus checks are better hand out approaches. They both want to trash trade deals and both want tariffs. If you are perplexed as many where why so many Bernie bros voted Trump over Hillary in 2016, this is the answer.
They are both blue-collar presidents, and both want to inflict damage onto the elite. The problem is that the elite are the system, their health is a function of the economies health, so it's a "buckle-in" moment when someone comes in who wants to rough up the elite.
If Trump and Musk aren't "the elite", I'm not sure who is. Unless what you really mean is "the educated".