The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Reprinted with permission from Alternet.

Vox.com has compiled a list of what President Trump’s $5.5 trillion tax cuts over 10 years could pay for, and it’s nothing short of shocking.

The massive tax cuts are “so one-sided that Trump administration officials have even admitted, publicly, that they’re not even sure if it’s going to help the middle class at all,” “Ring of Fire” co-host Farron Cousins began, in his breakdown of the report.

“Trump wants to eliminate the estate tax and the alternative minimum tax, thereby benefiting many of the richest taxpayers,” reported Fox Business. The right-wing network says the plan’s boost to the economy could be “mild” at best.

In a parallel America, that $5.5 trillion sum could be used to solve many of the ills afflicting the country’s poorest, rather than grossly benefiting its richest.

According to Vox, $5.5 trillion is enough to cut the rate of child poverty in half, carry out Bernie Sanders’ free college plan and eliminate all lead-contaminated soil, in addition to providing universal preschool and dramatically decreasing the ranks of the uninsured.

“We could drive down the cost of health insurance for every single person in this country and it would cost $1 trillion over 10 years,” noted Cousins. “But instead of doing any of [the projects outlined by Vox], Donald Trump has decided to take that $5.5 trillion and give it to the wealthy.”

“Keep in mind this is the largest tax cut in the history of the United States,” Cousins added.

Watch:

Alexandra Rosenmann is an AlterNet associate editor. Follow her @alexpreditor.

This article was made possible by the readers and supporters of AlterNet.

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Mark Meadows

Reprinted with permission from Alternet

Legal experts including a Harvard professor and a top election and voting rights attorney are weighing in on Sunday night's bombshell report from Rolling Stone naming members of Congress and the Trump administration who were involved in the planning and organizing of the January 6 rally and/or "Trump's efforts to overturn his election loss," according to two of the planners of the "Stop the Steal" rally.

Keep reading... Show less

Reps. Lauren Boebert, Louie Gohmert and Andy Biggs

Reprinted with permission from DailyKos

Several House Republicans—exactly the ones you would guess—were involved in planning meetings for protests on January 6 as Trump supporters tried to block the certification of the 2020 election and with it, Donald Trump's loss, two sources have detailed to Rolling Stone.
Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}