- Joined
- Sep 28, 2008
- Messages
- 17,046
- Reaction score
- 24,751
CBS News trying to compete with Newsmax as the worse news network
"While Trump didn't disclose details about how the plan would be implemented, tax experts say it would likely provide the most benefits to wealthy Americans while offering little aid to those who need it most — low-income workers.
If the plan mirrored the mortgage interest deduction, car owners would need to itemize their borrowing costs — making it a tax benefit that would mainly help high-income Americans, tax experts said. That's due to Trump's Tax Cuts & Jobs Act, which greatly expanded the standard deduction starting in 2018, which in turn limited write-offs for millions of low- and middle-income Americans.
Currently, only about 1 in 10 taxpayers itemize, the majority of whom are high-income earners. For instance, more than 60% of people earning over $500,000 itemize, versus 4% of those earning between $30,000 to $50,000, according to the Tax Policy Center."
Trump duping regular working people into thinking he cares about them...again.

