Penny for Joe Heck’s and Cresent Hardy’s Thoughts on Trumpís Tax Plan Written by and for Outsourcers
Penny for Congressmen Joe Heck's and Cresent Hardy's Thoughts on Trump’s Plan to Give Rich People and Outsourcers Like Himself a Multi-Trillion Dollar Tax Cut?
Washington DC (August 10, 2016) – This week, Donald Trump desperately tried to change the conversation after a week of terrible headlines, whether it was the embattled Republican presidential nominee insulting the Gold Star parents of a fallen American Muslim soldier, or declaring he “Always Wanted a Purple Heart” after dodging the draft 5 times during the Vietnam War, or recommending women simply “Find Another Career” if sexually harassed at the workplace, or denying revelations that he repeatedly asked a foreign policy advisor ‘If we have [nuclear weapons], why can’t we use them?’, or his spiraling poll numbers.
Trump attempted to hit the reset button by rolling out his economic plan during a fact-free speech in Detroit that editorial boards and economists have roundly slammed as a massive and costly giveaway to the wealthiest Americans and outsourcing corporations at the expense of middle class jobs. It’s been widely dismissed as lipstick on his previous pig of a plan that independent analysts found would balloon the deficit by $12 trillion and cost 3.5 million Americans their jobs. Under Trump’s previous proposal to make income inequality even greater in America, over one-third of the proposed tax cuts on personal income would go to the top 1% of income earners who would on average owe $275,000 less when the tax bill comes. Trump’s plans to deregulate Wall Street would invite back the same risky and reckless behavior with other people’s money that led to the financial crisis in 2008 and the Great Recession. This week, Trump threw in another goodie for the wealthiest among us, proposing to abolish the estate tax which only applies to the richest 0.2 percent of Americans. Trump’s family would personally benefit to the tune of $4 billion by getting rid of the estate tax, meanwhile it would blow a $320 billion hole in the deficit over the next decade.
While Trump, a hypocritical outsourcer, claims his trickle-down tax plans would make America “great again,” the economic growth that resulted from previous tests of the theory that millionaires will create jobs with their tax breaks rather than pocket them proved to be anything but great, whether it was the Bush tax cuts that led to the “worst jobs record on record”, or more recently Governor Sam Brownback’s tax cuts for the rich that have slowed Kansas’ economy to a crawl.
Given that Trump tweaked his costly tax proposals to more closely mirror those of Republican House Speaker Paul Ryan, voters deserve to know where U.S. Representatives Joe Heck (NV-3) and Cresent Hardy (NV-4) come down on all of this. Yes or no – would they vote for Trump’s plan?
- New York Times, 8/8: Mr. Trump’s Losing Economic Game Plan: Donald Trump said on Monday that he wanted to usher in “economic renewal,” but most of his proposals would hurt the economy, rack up huge deficits, accelerate climate change and leave the country isolated from the world. … He claims he would help workers by getting rid of the estate tax, though repealing it would have almost no effect on working families. Under current law, that tax doesn’t touch 99.8 percent of all estates because it applies only to that portion of an estate that exceeds$5.4 million for an individual or $10.9 million for a married couple. The big problem with Mr. Trump’s tax ideas is that they would leave a multitrillion-dollar deficit for no benefit.
- Washington Post, 8/8: Trump’s economic plan ignores the Americans he claims to speak for: He promised to abolish the estate tax and to reduce the current seven income tax brackets to three, with a top rate of 33 percent. The former idea would benefit a relative handful of super-wealthy families; the latter would blow a gargantuan hole in federal finances unless Mr. Trump also ended deductions and other loopholes, most of which benefit upper-income households disproportionately.
- Bloomberg, 8/8: Trump Has a Posture, Not a Plan, on Economics: Sadly, what he offered wasn't new, and it wasn't a coherent plan. The specifics Trump did put on the table would cripple rather than revitalize the U.S. economy.
- Sacramento Bee, 8/8: Trump looks out for the wealthy, not workers: Unfortunately, his big economic plan was mostly a mix of tired Republican favorites – getting rid of regulations and repealing Obamacare – and his own faulty ideas, such as tearing up groundbreaking climate change agreements and a protectionist policy that could easily start a trade war. . . But the gigantic tax cuts he wants would mostly benefit the 1 percent like him. If he’d release his tax returns like every other recent presidential candidate, we’d see just how big a windfall he’d get. . . It’s not at all clear how Trump would pay for all this generosity without exploding federal deficits or making painful spending cuts. He remains much better at complaining about problems (the loss of manufacturing jobs, stubborn unemployment and poverty) than offering real solutions.
Similar releases were issued to the following districts:
Martha McSally (AZ-02); David Valadao (CA-21); Steve Knight (R-CA-25); Mike Coffman (CO-6); David Jolly (FL-13); Carlos Curbelo (FL-26); Rod Blum (IA-01); David Young (IA-03); Kevin Yoder (KS-03); Bruce Poliquin (ME-02); Tim Walberg (R-MI-7); Mike Bishop (R-MI-8); Erik Paulsen (R-MN-03); Frank Guinta (NH-01); Scott Garrett (NJ-5); Joe Heck (NV-3); Cresent Hardy (NV-4); Lee Zeldin (NY-1); John Katko (NY-24); Randy Forbes (R-VA-4); Robert Hurt (R-VA-5); Barbara Comstock (VA-10)