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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's tax paradox: Middle America won't benefit as much as coastal elites
I think it was pointed out earlier that Hillary did well in states that were doing better economically.
Placing voting returns alongside President-elect Donald Trump's tax plan documents a remarkable paradox of 2016.
Trump won the presidency by rallying middle-American working-class whites against coastal elites. But his tax-cut plan directly benefits those coastal elites much more.
How much more? An analysis of Census Bureau income data prepared for CNBC by the Center on Budget and Policy Priorities makes it clear.
Among the 30 states Trump carried against Hillary Clinton last month, 25 contain below-average numbers of the high-income households whose after-tax incomes are projected to rise most as a result of his plan. By contrast, among the 20 states plus the District of Columbia that Clinton carried, 15 have an above-average share of those most affluent households.
That leaves Trump with the political challenge of sustaining support from red states while redistributing the benefits of federal tax policy toward blue states.
https://www.msn.com/en-us/money/taxes/trumps-tax-paradox-middle-america-wont-benefit-as-much-as-coastal-elites/ar-AAlaRcK?li=BBnb7Kz&ocid=edgsp
Wellstone ruled
(34,661 posts)Tax plans are the Raygun Economic Policy on Roid's. Those living in States that voted for Trump are about to see their Income Taxes increased for every income class below 175 k,with the heaviest hit to anyone below 50k.
The real key here is,what happens to Transfer Payments,those are Federal dollars flowing back to the States. Right now,the Red States receive a disproportional share of these Transfers.
If one thinks there will be any change with this Policy,hunch says,there will be a major shift of these Transfers were the Blue States will receive even less. Trump has already stated,people who did not vote for him will pay the price.
Aristus
(66,316 posts)"Is this your nose you just cut off? Geez, your face looks terrible!"