Trump/GOP Tax Plan is Class War

  Bill Barclay

The Trump/GOP “Unified Framework” tax plan has something for everyone – if by everyone you mean the wealthy, corporate and non-corporate businesses and the alt-right.  The plan embodies both the neoliberal class warfare that believes poor people have too much money and rich people have too little money and connects with the social conservative politics that the Trump and the GOP draws upon to mobilize its supporters. 

Class Warfare: I

Some of the class warfare politics of the Trump/GOP proposals are obvious; others less so.  The proposal provides a small tax cut for households in the bottom three quintiles, ranging from about 0.5 – 1.2% of after tax income in all cases well under the $1,182/family income boost claimed by Rep. Paul Ryan.  At the upper end of the income pyramid, the story is much different.  Over half of the total tax cuts for individuals will accrue to the top 1% of households, boosting their after tax incomes by 8.5%. Of course, life can be even better: the top 0.1% households would grab an average tax cut of almost $750,000, capturing over 30% of the total tax cuts for families and individuals.  

And Trump has not neglected people like himself.  He – and others in his income and wealth sphere – will gain in three ways from the changes in the individual income tax.  First, the elimination of the alternative minimum tax (AMT): in 2005, Trump paid $38.4 million on income over $150 million – but without the AMT he would have paid only $7.1 million. 

Class War- The New Robber Barons

How Students Landed on the Frontlines of Class War | California Progress Report

How Students Landed on the Frontlines of Class War | California Progress Report

Juan Cole

The Class War Argument

The Truth About “Class War” in America

By Richard D. Wolff

Republicans and conservatives have done us a service by describing federal policies in terms of "class war." But by applying the term only to Obama's latest proposals to raise taxes on the rich, they have it all backward and upside down. The last 50 years have indeed seen continuous class warfare in and over federal economic policies.
But it was a war waged chiefly by business and conservatives. They won, as we show below, and the mass of middle-income and poor Americans lost. Obama's modest proposal for tax increases on the rich does not begin a class war. On the contrary, it is a small, modest effort to reduce the other side's class war victories.
Big business and conservatives have worked to undo the regulations and taxes imposed on them in the wake of the Great Depression of the 1930s. Then, an upsurge in labor union organization (the Congress of Industrial Organizations sweep across basic US industries) and in membership in both the socialist and communist parties gave Franklin Delano Roosevelt the support and the pressure to tax business and the rich. He took their money to pay for the massive federal hiring program (11 million federal jobs filled between 1934 and 1941) and to start the Social Security Administration etc. He regulated their business activities to try to prevent devastating capitalist depressions from recurring in the nation's future.
Since the end of the Great Depression - and especially since the 1970s - the class warfare waged by business and its allies (most conservatives in both parties) was successful. For example, at the end of World War II, for every dollar Washington raised in taxes on individuals, it raised $1.50 in taxes on business profits. In contrast, today, for every dollar Washington gets in taxes on individuals, it gets 25 cents in taxes on business. Business and its allies successfully shifted most of its federal tax burden onto individuals.

The Math Behind "Class Warfare" And A Middle Class Under Attack | California Progress Report

The Math Behind "Class Warfare" And A Middle Class Under Attack | California Progress Report