Pending Tax Increase

The Republicans think that cutting tax rates will do the trick because they believe that the pickup in economic growth will generate additional tax revenues. Democrats respond by saying that raising taxes on the rich will provide needed revenues to expand progressive government.Which is the right answer? Probably neither one. If anything these two sides agree on the need for middle-class tax increases to pay for government. Example A: Jeb Bush would replace today’s seven individual rates with three: 10 percent, 25 percent and 28 percent, and cut the top corporate rate to 20 percent from today’s 35 percent.In reality, no one's plan has a pot of gold at the end. "Donald Trump’s plan results in a $12 trillion revenue loss after 10 years. The other losses include $6.1 trillion for the plan from Sen. Marco Rubio (R-Fla.) and $3.7 trillion for Bush’s." Both parties are trying to avoid the dreadful middle-class tax increase, which would be widely hated. Both plans, Democratic and Republican don't even come close to solving the problem that is playing for government cost. A middle-class tax increase is inevitable for both parties, and no one is going to like it.