The Logical Leftist
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Study: Most people would do worse under GOP tax plan
Posted
March 11, 2016
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March 11, 2016
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"The tax plans from Donald Trump, Marco Rubio and Ted Cruz would each cost trillions of dollars over 10 years, and the United States is already projected to face large budget deficits. As a result, the candidates’ tax plans, if enacted, would inevitably lead to spending cuts and/or tax increases, CTJ said in a report released Wednesday.
“As this report shows, when those inevitable spending cuts and tax increases are taken into account, the vast majority of Americans will end up as big losers,” the group said.
CTJ’s analysis assumes the candidates’ tax cuts would be paid for by equally cutting spending and raising income taxes across-the-board. This is similar to what happened after then-President Ronald Reagan cut taxes in 1981, according to the report.
Under CTJ’s model, each person would see the same dollar “cost” from the spending reductions, while tax increases would be allocated based on the overall personal income distribution, the group said."
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