For some in middle class, Trump plan would mean tax increase

Here is the graph of Trump’s plan. Click here.
 

WASHINGTON (AP) — President-elect Donald Trump’s proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They’d pay more.

Most married couples with three or more children would also pay higher taxes, an analysis by the nonpartisan Tax Policy Center found. And while middle-class families as a whole would receive tax cuts of about 2 percent, they’d be dwarfed by the windfalls averaging 13.5 percent for America’s richest 1 percent.

Trump’s campaign rhetoric had promoted the benefits of his proposals for middle-income Americans.

“The largest tax reductions are for the middle class,” said Trump’s “Contract With the American Voter,” released last month.

Read on.

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