Aside from the fact that your source is a verified right wing conservative outfit...note the name involves the word "INVESTORS". There's no doubt that rich, connected investors are benefiting from Trump's tax cuts and of course, the cuts are working for them. That's what Trump wanted to do.
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RIGHT-CENTER BIAS
These media sources are slightly to moderately conservative in bias. They often publish factual information that utilizes loaded words (wording that attempts to influence an audience by using appeal to emotion or stereotypes) to favor conservative causes. These sources are generally trustworthy for information, but may require further investigation. See all Right-Center sources.
Factual Reporting: MIXED
Notes: Investor’s Business Daily (IBD) is an American media company covering international business, finance, economics and the stock market. IBD allows lobbyists and PR reps for right wing think tanks like the Heartland Institute and the Competitive Enterprise Institute to write pseudo-scientific propaganda. (6/14/2016) Updated (1/5/2017)
As far as regular Americans, not so much...and this is from FORBES!
https://www.forbes.com/sites/johnwas.../#125ec81f6c1e
Every time I eye the GOP's tax plan, I'm reminded of Ebenezer Scrooge's wish to "decrease the surplus population" of the working class and poor.
Scrooge's sentiment is re-animated in myriad ways that punish retired, working folks and the poor in recent GOP attempts to reward the ultra-affluent and corporations in their version of "tax reform."
Here are several examples of how the tax plan hurts people who are not well off:
-- Retirement Benefits Will Likely Be Cut. Because the plan proposes to add at least $1.5 trillion to the national debt, fiscal conservatives say the imbalance needs to be offset by either cuts of "entitlement" programs like Medicare, Social Security and Medicaid or tax increases (see below).
One sneaky way to lower Social Security payments is to change the way they are calculated. They are now indexed to inflation through a standard measure of the Consumer Price Index, but that will change under a new way of figuring inflation.
Republicans want to used a "chained CPI," which would cut the amount retired people receive. Here's what Los Angeles Times columnist Michael Hiltzik discovered when he pried into the Senate GOP's tax plan:
"Changing the inflation index immediately would raise about $125 billion over the next decade and nearly $500 billion in the decade after that, according to the Tax Policy Center.
Most of that money would come out of the pockets of middle- and working-class taxpayers. Most important, it would slow inflation adjustments to tax brackets. This would hurt those taxpayers because more of them would move into higher tax brackets purely because of inflation in their wages."
-- The GOP Plan Would Really Raise Taxes for Middle Class Over Time. President Trump and his GOP allies have been crowing about how middle class families will receive a tax cut in their plan.
The truth is obscured by the fact that several tax breaks -- like personal exemptions and property tax write-offs -- are cut.
Moreover, whatever meager personal cuts are proposed now go away in the future to pay for huge rate reductions for global corporations and the ultra-wealthy. Here's Catherine Rampell in the Washington Post:
"Republican leaders keep claiming the bill focuses on helping the middle class. But voters are already catching on to the fact that the biggest tax cuts go to the wealthiest.
Lately the public has learned that the Senate bill will actually raise taxes for households making less than $75,000 by 2027, relative to current law. Yes you read that right. And it’s true even if you don’t count the bill’s changes to Obamacare."
-- Those Who Can Least Afford It Will Pay the Most for These "Reforms." The math is most compelling because it's mostly subtraction for working people.
Since the in GOP plan is not cutting corporate loopholes, bringing back trillions in offshore cash by corporations and cutting defense spending, again, the only way to reduce the federal deficit is to slash big programs like Medicare, Social Security and Medicaid.
This cruel math hurts everyone from retired people in nursing homes to the working poor. There's no help for families paying for long-term care, payroll taxes or college.
Graduate students and families paying off college debt see whatever modest tax breaks vanish. That will further mushroom the outrageous cost of college.
Instead of giving families tax credits for college bills and nursing/home care bills, they pay more out of pocket while the estate and alternative minimum tax on the ultra-affluent disappear.
And on health care, the GOP tax reform template would cause millions to lose their health coverage or pay more, according to a fresh analysis from the AARP Public Policy Institute:
-- People ages 50 to 64 would face average premium increases of up to $1,500 in 2019 as a result of the bill, the AARP study found.
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Originally Posted by Agent Zero
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