A senior adviser to Bernie Sanders said in April that if Sanders is elected, he would “repeal the Trump tax scam.”
“I had the privilege of being with Bernie in ’10 when he spoke on the Senate floor for 8 hours against extending the Bush tax breaks for the top 1%. When we are in the White House, yes we will repeal the Trump tax scam & create an economy that works for all of us,” Warren Gunnels, a senior adviser to Bernie Sanders tweeted in April.
The promise by the Sanders campaign to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:
A family of four earning the median income of $73,000 would see a $2,000 tax increase.
A single parent (with one child) making $41,000 would see a $1,300 tax increase.
Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax.
Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.
Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
The USA would have the highest corporate income tax rate in the developed world.
Taxes would rise in every state and every congressional district.
The Death Tax would ensnare more families and businesses.
The AMT would snap back to hit millions of households.
Millions of households would see their child tax credit cut in half.
Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.
In Vermont, where Sanders serves as a U.S. Senator, households making the state average income of $57,513, received a tax cut of around $1,472.48 according to a Tax Foundation report.
Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:
If you want to stay up-to-date on their threats to raise taxes, visit www.atr.org/HighTaxDems.
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