... for millionaires and wealthy corporations paid for by cutting
Social Security, Medicare, Medicaid and education.
TRUMP'S TAX & BUDGET PLANS
TRUMP TAX GIVEAWAYS
TRUMP BUDGET CUTS
$2.4
TRILLION
Total cost of GOP’s unpaid-for tax cuts, mostly for the wealthy & corporations
$4.3
TRILLION
Trump budget cuts to Social Security, Medicaid, education & all other services
$2
TRILLION
Corporate tax rate cut
$2.5
TRILLION
Trump budget cuts to services that boost working families
$1.2
TRILLION
Tax cut from changing individual income tax rates mostly benefitting the rich
$1.9
TRILLION
Trump budget cuts to Medicaid & other health care spending
$770
BILLION
Tax cut for hedge fund managers, corporate lawyers and real estate developers like Trump
$346
BILLION
Trump budget to education, training, employment and social services
$600
BILLION
Possible tax break on untaxed corporate profits now offshore
$261
BILLION
Trump budget cut to transportation infrastructure
$440
BILLION
Tax cut from repealing a minimum tax on the wealthy that will benefit Trump
$193
BILLION
Trump budget cuts to nutrition assistance
$240
BILLION
Tax cut from repealing tax on estates worth more than $5.5 million
$72
BILLION
Trump budget cuts in services for people with disabilities
Trump Tax Giveaways
- $2.4 trillion in tax cuts are not paid for: These are all tax cuts for corporations and businesses.3 This will balloon the deficit and result in GOP demands to cut Social Security, Medicare, Medicaid, education and many other services.
- Richest 1% get:
- 50% of tax cuts in 2018 and 80% in 10 years
- $130,000 tax cut in 2018 and $207,000 in 10 years (averages)
- A growing share of the middle class will get hit with a tax increase—14% in 2018 (averaging $1,000) and 28% in 10 years (averaging $1,300).
$2.4 TRILLION: TOTAL COST OF GOP’S UNPAID-FOR TAX CUTS, MOSTLY FOR THE WEALTHY & CORPORATIONS
VS
Trump Budget Cuts
- Trump would cut nearly $2 trillion from health care, mostly Medicaid, harming children, people with disabilities, older Americans, and working families.
- $72 billion cut from Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) for low-income seniors or people with disabilities.
- $667 billion cut from food stamps, housing assistance, job training, and other critical services.
- Includes other deep cuts to education, medical research, environmental protections, and infrastructure.
$4.3 TRILLION: TRUMP’S BUDGET CUTS TO SOCIAL SECURITY, MEDICAID, EDUCATION & ALL OTHER SERVICES
Trump Tax Giveaways
- Corporate tax rate slashed from 35% to 20%—more than a 40% cut.
- 80% of corporate tax cuts benefit wealthier Americans.
- Corporate profits are at highs not seen since the 1950s, while corporate taxes are at record lows.
$2 TRILLION CORPORATE TAX RATE CUT
VS
Trump Budget Cuts
- From health care to job training, housing assistance to nutrition, Trump’s budget slashes programs vital to working families—all to pay for his corporate tax breaks.
- These service cuts are 60% of the $4.3 trillion in total cuts proposed by Trump. Our families lose out while wealthy corporations take more and more.
$2.5 TRILLION: TRUMP BUDGET CUTS TO SERVICES THAT BOOST WORKING FAMILIES
Trump Tax Giveaways
- 7 tax brackets reduced to three: 12%, 25%, 35%.
- Increases lowest tax bracket from 10% to 12%—a 20% jump. Lowers top tax bracket for wealthy by almost 12%—from 39.6% to 35%.
- Tax increases on the middle class grow with time and dwarf those on the rich. Share of middle-income people hit by a tax increase doubles from 14% in 2018 to 28% ten years later. Meanwhile, top 1% with a tax increase drops from 10.7% to 9.8%.
$1.2 TRILLION TAX CUT FROM CHANGING INCOME TAX RATES
VS
Trump Budget Cuts
- Trump’s budget would repeal the Affordable Care Act (ACA) and make even deeper cuts to Medicaid, totaling $1.6 trillion.
- Trump would take away Medicaid coverage from 19 million people under ACA repeal. His additional cuts would put even more patients at risk.
- Medicaid provides health care to 69 million children, adults, seniors and people with disabilities. It covers nearly two-thirds of nursing home residents and almost half of all births.
$1.9 TRILLION: TRUMP BUDGET CUTS TO MEDICAID & OTHER HEALTH CARE SPENDING
Trump Tax Giveaways
- Slashes top tax rate on wealthy business owners from 39.6% to 25%, giving huge tax cuts to hedge fund managers, corporate lawyers, and real estate developers like Trump.
- Sold as a small business tax cut, but just 14% of business owners and only 4% of all taxpayers would get this tax cut.
- Top 1% would get up to nearly 90% of this tax break—a tax cut of $32,500 each year (average).
$770 BILLION TAX CUT FOR HEDGE FUND MANAGERS, CORPORATE LAWYERS & TRUMP
VS
Trump Budget Cuts
- Makes deep cuts to K-12 education and college financial aid, eliminating subsidized loans helping 6 million students afford college each year.
- Eliminates after-school and summer programs for almost 2 million students.
- Cuts job training and employment services, depriving 570,000 people of help in 2018.
- Ends funding for Special Olympics education.
- Cuts support for child care, Head Start, and other early childhood education services.
$346 BILLION CUT TO EDUCATION, TRAINING, EMPLOYMENT & SOCIAL SERVICES
Trump Tax Giveaways
- American corporations have $2.6 trillion in profits stashed offshore. They owe about $760 billion in U.S. taxes on those profits.
- Trump-Ryan plan would cut the tax owed by an unspecified amount. Based on earlier proposals, the plan would likely cut the tax bill to just $160 billion—a $600 billion tax break.
- Corporations should instead pay what they owe, just like working families and small businesses do.
POSSIBLE $600 BILLION TAX BREAK ON CORPORATE PROFITS NOW OFFSHORE
VS
Trump Budget Cuts
- Trump’s budget cuts the repair and maintenance of ground, air, and water transportation systems.
- Cuts the underfunded Highway Trust Fund by $96 billion, losing up to 1.2 million jobs over 7 years.
- U.S. infrastructure is rated D+. Funding is $2 trillion short of what’s needed over next decade even before Trump’s cuts. Shortfall means 2.5 million fewer good-paying jobs in 2025.
$261 BILLION CUT TO TRANSPORTATION INFRASTRUCTURE
Trump Tax Giveaways
- Eliminates the Alternative Minimum Tax (AMT), which prevents the wealthy from using excessive deductions and other breaks to sharply reduce or eliminate their tax bill.
- The AMT prevented Trump from cutting his taxes by $31 million in 2005, the one year for which his tax returns have been made public.
- Trump’s tax rate would have been less than 4% if the AMT had not been in place.
$440 BILLION TAX CUT FROM REPEALING A MINIMUM TAX ON THE WEALTHY
VS
Trump Budget Cuts
- Eliminates food aid for millions of households by cutting the Supplemental Nutrition Assistance Program (SNAP, formerly food stamps).
- SNAP feeds more than 42 million, including 1 in 4 children.
- Cuts Meals on Wheels support by eliminating three block grants. Meals on Wheels delivers food to 2.4 million low-income seniors a year.
$193 BILLION: TRUMP BUDGET CUT TO NUTRITION ASSISTANCE
Trump Tax Giveaways
- Repeals the estate tax, allowing Trump’s kids and other rich heirs to inherit fortunes tax-free.
- Estate tax is only paid by estates worth at least $5.5 million.
- Just 2 out of every 1,000 estates owes any tax—or only 5,500 estates in all of 2017.
$240 BILLION TAX CUT FROM REPEALING TAX ON ESTATES WORTH MORE THAN $5.5 MILLION
VS
Trump Budget Cuts
- Cuts Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI), risking the financial security of people with disabilities.
- SSDI supports 10.5 million people who can’t work due to injury or illness and their spouses and children.
- SSI benefits 8.2 million disabled seniors, adults, and children with limited incomes.
$72 BILLION: TRUMP BUDGET CUTS TO SERVICES FOR PEOPLE WITH DISABILITIES
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