While ordinary American workers are falling behind, the wealthy few are doing quite well. From 1979 to 2007, the top 1 percent’s average after tax income quadrupled, while income for the middle 60 percent and bottom 20 percent of Americans grew at a much slower pace.
Still, the Republican presidential candidates are proposing trickle-down, regressive tax plans that only make the income gap worse and hinder economic growth.
- By eliminating the estate tax, Trump’s tax plan would save Trump’s family as much as $3.48 billion. TWEET
- Jeb Bush would give himself a tax cut of $773,677 in 2013 alone. TWEET
- According to the conservative Tax Foundation, Ted Cruz’s tax plan will increase the top 1 percent’s after-tax income by 29.6 percent, while the middle class would only get a 1.5 percent boost. TWEET