I can’t find a link yet, but there was a report on WBUR this afternoon, Tuesday November 7th between 4-5 o’clock where a tax analyst gave listeners an overview of the proposed Trump tax plan. Most families earning $800,000 a year or more would see a big reduction, in the thousands of dollars and a typical family making $100,000 or less will see about $1,000 in tax reductions.
But here is the key: If the $800,000 is coming from “rents”, meaning business owner, stock owner, taxpayers will see a reduction BUT (and this is an important “but”) if that $800,000 comes from labor, meaning a family with one or two incomes reaching that level as employees of a member of the “ownership class”, this high wage “working class” family will actually see an increase in their tax burden.
This is just more proof as was the subject of many economists, Piketty, Stiglitz, Baker, that the great wealth divide is not between the educated and the non educated, the highly skilled and the poorly skilled, it’s between the “ownership class ” and the “working class”.
