To add insult to injury Trump wants to shift the tax burden to the working class. He’s proposed lower income taxes for individuals and business in other words the rich and upper class.
Those plans – if enacted – would cut tax revenues by $6 to $7 trillion, CNN Money reported. Some of that would be made up by the tariff penalties Trump wants to impose on some imported goods, including a 10% tariff on all imports. That would effectively be a 10% federal sales tax that everybody; including those who don’t pay the income tax would pay.Read more