Democratic congressional leadership has unveiled their 2018 economic plan, and it’s not likely to be very popular.
The plan seeks to raise taxes on small businesses and to increase the corporate tax rate following President Donald Trump’s massively successful tax cuts, which are already leading to savings and bonuses for employees across the country and even lowering millions of Americans’ energy costs.
The Democrats want to bump the top marginal tax rate up from 37 percent to 39.6 percent — which would squeeze money out of the numerous LLC companies that pay that tax rate.
The Dems also want to bump Trump’s 21 percent corporate tax rate up to 25 percent, which would inevitably slow economic growth.
The Democratic Party also seeks to slash the death tax deduction.
Insiders expect “Impeachment” to be the real theme of their 2018 effort, because a Democratic House majority could impeach the President for some reason or other and then send Trump to trial in the Senate, where establishment GOP’ers like Mitch McConnell would be itching to bump Trump out of office in favor of Mike Pence.
But it’s good to know that if they ever came back to power, they would also raise taxes. The Trump Recovery will be on the ballot in the 2018 midterms!
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