The Ryan-McConnell tax plan cuts corporate rates by 43%. You might wonder how they could possibly pay for that big of a cut. Here's how:
For starters, it explodes our debt & deficits. This isn’t about fiscal responsibility. Never has been. It's about helping donors & the rich.
Teachers who pay for classroom supplies for their students OUT OF THEIR OWN POCKETS will lose their tax deduction under this GOP plan.
Students, often DROWNING in student loan debt from high interest rates & the high costs of college, will see their tax deduction eliminated.
Families who rely on the state & local income and sales tax deductions will see them disappear. In KY, that’s an avg deduction of ~$9,500.
People with health problems, serious illnesses, cancer, etc. will no longer be able to deduct their high medical expenses under this plan.
This isn’t tax reform. It’s a huge gift to the wealthy & a complete abdication of any responsibility to help struggling families get ahead.
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