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The American System

Nov 2017

November 25, 2017 WCR

November 26, 2017

GOP Tax Plan Designed to Loot 99%, Reward Billionaire Donors; Doubling Standard Deduction More Than Cancelled Out by Ending All Personal Exemptions; Families With More Than Three Dependents Hurt; Much-Touted Child Tax Credit Increase Not Refundable, Helps Rich Families; No More Tax Credit for Elderly and Disabled; Alimony Deduction Gone; Top Bracket Kicks in at Higher Income, Reducing Tax Bite on Wealthy; Pass-Through Income to Fat Cats Favored; Ending Estate Tax and Alternative Minimum Tax a $1.5 Trillion Plutocrats’ Bonanza; Reliance on Chained CPI Gouges $125 Billion from Modest Earners; Repeal of Deductions For State and Local Taxes, Student Loans, and Teacher Supplies, Plus Attacks on Graduate Tuition Waivers, Employer-Paid Courses, and University Endowments Disastrous For Urban States and Education at All Levels; Mobilize To Stop This Monstrosity!