So mass layoffs of middle class govt employees to reduce costs and then a tax cut package that benefits the top end... All while blowing out the deficit. And zero reform to SS/Medicare.
In 2034, we estimate the bottom 40 percent of households would see tax increases, on average, with after tax income falling by 0.6 percent for the bottom quintile and by 0.4 percent for taxpayers in the 20th to 40th percentile. Middle income taxpayers would see very slight tax cuts on average, with after-tax income increasing by 0.3 percent in 2034. The top two quintiles would see the largest increases in after-tax income, ranging from 1.4 percent for taxpayers in the 60th to 80th percentile to 3.1 percent for the top quintile. Increases for the top 1 percent are even larger, reaching 4.1 percent in 2034.
We estimate Trump’s proposed tariffs and partial retaliation from all trading partners would together offset more than two-thirds of the long-run economic benefit of his proposed tax cuts.
taxfoundation.org
