GOP Tax Plan Benefits Wealthy, Not Working Families
Trump tax plan benefits wealthy, including Trump. NYT: "The tax plan that the Trump administration outlined on Wednesday is a potentially huge windfall for the wealthiest Americans. It would not directly benefit the bottom third of the population. As for the middle class, the benefits appear to be modest. The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity... the plan would also benefit Mr. Trump and other affluent Americans by eliminating the estate tax, which affects just a few thousand uber-wealthy families each year."
No GOP Plan To Pay For Massive Tax Cuts
$5 trillion question for Trump tax plan: How to pay for it? AP: "For President Donald Trump and Republican congressional leaders, that is the mostly unanswered $5,800,000,000,000 question. The plan they released Wednesday took a first step toward outlining how Republicans propose to cover some of the monumental cost over the next 10 years, mainly by removing certain tax breaks. But even those proposed changes were left vague - and wouldn't remotely pay the full cost of the tax cut... The Trump administration argues that it can accelerate the economy's growth far beyond its current pace and, in doing so, generate enough federal revenue to cover the shortfall. Most economists have called that wishful thinking."
Wealthy Donors Reap Rewards In Tax Cuts
Powerful interests invested in tax reform reap benefits under GOP plan. ThinkProgress: "President Donald Trump insists “the rich will not be gaining at all” with his administration’s new tax reform bill, introduced on Wednesday. But the measures in the plan are aimed at benefiting wealthy business owners and the nation’s powerful corporations that have spent, in some cases, millions of dollars lobbying for its own interests and filling the campaign coffers of the very people who crafted the bill. The centerpiece of the plan is a series of tax cuts for corporations that will likely mean less funding for the government to do its job and more money in the hands of the wealthy corporate interests who bankrolled their various campaigns."
Trump Still Fixated on Health Repeal
Trump plans executive action to let insurers sell health plans across state lines. WaPo: "President Trump said Wednesday that he could take executive action next week to allow insurers to sell health plans across state lines and make it easier for individual consumers to buy coverage as a group, a policy approach long championed by conservatives. Trump’s comments, which came on the same day that insurers in about three dozen states had to finalize their federal contracts to offer 2018 coverage under the Affordable Care Act, did little to allay their concerns or those of state officials."
Lacking Aid, Puerto Rico Faces Health Crisis
Puerto Rico's looming medical crisis is 'about to explode'. CNN: "'Communities are disabled by the storm, (Dr. Fuller) says, yet it's fuel and electricity that are driving this disruption. 'If we had good logistics and good communications, things could probably settle out a little faster,' Fuller says. However, the lack of those things could lead to a medical problem, since medications might not be delivered where needed... there are wires down, which will make it hard to light up the houses. He agrees, fuel distribution is still a problem. He sees plenty of good doctors and nurses on the island, so it's not a matter of human resources. 'It's a matter of getting the medications and treatments to the people,' Fuller says. It's also a matter of being able to move around and get services to people, which cannot happen without fuel. In the shortest term, people with diabetes who don't have access to the right food and medication will be most vulnerable, Fuller says. A week without insulin, which requires refrigeration and a needle, can lead to a coma, which in turn can lead to death, he says. People relying on dialysis may also be in trouble."