Drew Rodgers

I live in Norway with my wife, Inger, and our cat T.J. Maxx and teach International Business Communications at Oslo University College School of Business.

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Trump’s Tax Plan

According to a Telfair Research opinion poll only those who believe in Breibart News, the tooth fairy, the Easter bunny and Santa Claus believe that the plan will help the middle and working classes. If you fall into that category, here’s some information you should consider.

1.The poorest 20% would receive a tax break of between 0.2% and 0.5%. The middle class consisting of the 20% to 80% of the population, would receive somewhere 0.8%-1,9% depending on their income.The upper 1% would receive a 10% to 16% tax break. Trump himself, based on the one tax returns available, would save $38 million.
2. It would add $7 trillion to the national debt which would increase interest rates on housing, cars etc.
3. It would not result in more jobs as corporate leaders take the money and save and invest in the stock market. Trickle down economics is dead. The only time corporate leaders increase production is when demand increases. Trump will do nothing, like raise the minimum wage, to increase demand.
4. It will hurt families with school age children as they will lose the personal deduction for each child.
5. Guess where the cuts will be to make up for the $7 trillion? Social security, Medicaid, Medicare, Head Start and a whole list of programs from which the working and middle classes benefit.

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