Why the Latest Tax Reform Plan Is "Fake News"

The truth is, the GOP's sweeping plan to overhaul the U.S. tax code - the plan to create jobs and lighten the tax burden on America's wage-earning workers - is insulting. That's because the justification for the cuts is based on hoary, old, fake tax policy narratives like: "Higher taxes on the rich hurt the economy," and "tax cuts for the rich trickle down," or "U.S. corporate taxes are the highest in the world," and "lowering taxes will bring outsourced jobs back home." Besides being fake, nothing in any of these narratives addresses the new American economy, where more income is earned by companies and wealthy individuals through capital than through labor. When you understand that, you'll see why income and wealth gaps are increasing all over the United States. What's more, you'll see that the real, workable solution is in fact a few simple tax and tax-cutting ideas that actually spread the wealth. Here's what I mean... Tags: washington To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why the Latest Tax Reform Plan Is "Fake News" appeared first on Money Morning - We Make Investing Profitable .