School’s out, but adults need to pass math education. Remember Trump’s Republican tax cuts that benefitted the wealthy and, by the Congressional Budget Office’s (CBO) estimate, cost the government $1.9 trillion before it expires in 2025? That’s a big deficit Republicans don’t want to talk about, but they do say they want to cut Social Security, healthcare, food assistance programs, and more that your taxes make possible.
Now the CBO’s new estimate of cost to keep Trump’s tax cut in place over the next decade: $4.6 trillion. In April Trump told donors he plans to extend the tax cuts, and Republican legislators in Congress are agreeing to that extension. That means working and middle class families carry the tax burden when the wealthy do not pay their fair share. Shows Republicans have little regard for the actual deficit and working people.
Instead, consider Biden and Democrats’ plans: no extension of tax cuts, but implementing tax rates that would increase for those making over $400,000 and a corporate minimum tax of 21% that would end big corporations paying little or nothing. Other provisions would make the tax system fairer—benefitting everyday workers and families. American Enterprise Institute found that Biden’s changes would result in $3.8 trillion in revenue increases, not $4.6 trillion deficit with Trump’s extension.
Also, under Biden and Democrat’s enacted policies (for example: American Rescue Plan, and CHIPS & Science Act) there is substantial increase in new businesses and jobs.
Quiz time. Republican wealthy tax cuts: $4.6 trillion deficit and program cuts or Democrat fair tax plan: $3.8 trillion for important programs for all people, reduce deficit.
Your answer: vote for numbers that benefit you. The math is clear.
Stop Project 2025. Save our democracy, rights, and freedom. Vote for Democrats up and down ballot on November 5th, 2024.