Donald Trump ran for president on the idea that he would be cutting taxes, but a new report shows that for 8 million families, that’s a big lie.
An analysis by the nonpartisan Tax Policy Center looked at Trump’s “Contract With the American Voter,” which he released in October as most of the mainstream media was engaged in wall-to-wall coverage of Hillary Clinton’s emails.
Trump plans to eliminate the personal exemption and the head-of-household filing status, changes that would slam single parents and large families with major tax hikes.
Bob Williams, a fellow at the Tax Policy Center, told CBS News: “If you’re a low- or moderate-income single parent, you’re going to get hurt.”
Trump’s proposed tax cuts are targeted at the top 1% of earners, and similar policies from Presidents Ronald Reagan and George W. Bush were followed by major recessions that hurt middle class families while the super wealthy were free to prosper.
CBS points out that under Trump’s proposal, a single parent with two kids bringing in $75,000 in income would see their tax bill INCREASE by $2,440.