A large majority of Americans think the wealthiest should pay more taxes, according to a recent poll by Reuters, just as President Donald Trump is pushing a plan that would eliminate some taxes for the rich.
The results of the poll, with a 6 percent margin of error, suggests that most Americans disapprove of Trump’s tax plan proposes to reduce the corporate tax rate to 20 percent from 35 percent.
On top of that, the tax plan also reads that it would get a similar reduction for tax partners and sole proprietors who earn pass-through income at 25 percent, instead of the current top individual rate of 39.6 percent.
Conducted from Sept. 29 to Oct. 5, the Reuters poll detailed that 53 percent of adults “strongly agree” that the wealthiest Americans should pay higher tax rates.
An additional 23 percent “somewhat agree” that the wealthiest should pay higher tax rates, according to the poll of 1,504.
Trump’s plan also suggested eliminating the 40 percent tax paid on estate assets worth more than $5.5 million, or $11 million for a married couple.
Trump has said in the past that his tax plan would be a “miracle for the middle class” and spur economic growth by creating a better tax climate for businesses.
He is expected by many media outlets to promote his tax plan to a crowd of blue-collars workers, explaining how it“would likely give the typical American household a $4,000 pay raise,” according to an excerpt from his prepared remarks on the proposal of his tax plan.
White House economic adviser Kevin Hassett has said that if U.S. companies brought foreign-earned profits home, the median household would see their real income rise by $4,000 over the next eight years.
“I have not seen any evidence that even comes remotely close to that,” Richard Neal, the top Democrat on the U.S. House of Representatives Ways and Means Committee, said of the calculation at a forum in Washington this month.
Neal’s Republican colleagues on the tax-writing committee will meet to flesh out key components of Trump’s tax framework, lawmakers and aides said.
“That’s where a lot of details are going to be finalized,” said Representative Kristi Noem, a Republican member of the panel.
With taxes still likely to give all classes the boot, saving money on insurance for your home or car can be tough.
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