Leave it to the mainstream media to distort any and all news with President Trump’s name in it!
And tax reform is no different, as Fox’s Neil Cavuto learns from reporter Gerri Willis, who talks about the reality of Trump’s new tax plan, versus the mainstream media’s perception of it.
Even though tax rates are getting slashed across the board, it’s mostly lower and middle-income people who will benefit, as well as small businesses. Why? Because at the end of the day, even if all tax rates are slashed with these proposals, major loopholes that wealthy people have been taking advantage of for decades will be closed up.
While mainstream news outlets claim that major earners will pay a lot less tax, the elimination of these loopholes will offset much of the difference. There will also be incentives for large conglomerates that have been declaring income overseas to repatriate that money and put it back into the American economy. Currently, the total of all that foreign-declared income is in the trillions.
The liberal media would love for voters to believe that Trump is only helping the wealthy at the expense of the average voter, but it simply isn’t the case. Watch as Gerri and Neil explain.