Juxtaposition Of Slashing Services For Poor, Deep Tax Cuts For Wealthy Hard To Sell To Constituents
Republicans say the taxes are killing jobs and strangling economic growth, but paired with their plans for rolling back Medicaid, the cuts may become politically toxic to Republicans.
The New York Times:
A Risky Mix: Cutting Taxes For The Rich And Aid For The Poor
The tough lessons are piling up for Republicans as they struggle to repeal the Affordable Care Act, but one stands out as a harbinger of things to come: Tax cuts for the rich, paired with reduced services for the poor, are a politically unpalatable combination. Unable to get the first version of their health care bill off the ground, Senate Republicans are expected to release a revised bill on Thursday that would keep two of the taxes on the wealthy that were imposed by President Barack Obama’s health law: the 3.8 percent tax on investment income and the 0.9 percent surcharge on Medicare taxes, both imposed on high-income earners. (Rappeport, 7/12)
Donald Trump Could Get Huge Tax Cut With Obamacare Tax Repeal
The elimination of an Affordable Care Act tax could result in a personal tax cut for President Trump of between $1.4 million and $2.8 million a year, according to a liberal advocacy group. Americans for Tax Fairness said the elimination of the 3.8% net investment income tax would, by its estimates, result in the big cut. The group based its estimates on Trump's financial disclosure form. (Estepa, 7/12)