The memo outlines several expensive tax handouts for the wealthy:
—Repeal the 15% corporate profit minimum tax
—Eliminate the estate tax for millionaires
—Lower the corporate tax rate to 15%
—Reinstate corporate tax loopholes
These tax breaks altogether cost $1.2 TRILLION.
The memo also advocates for stripping away $80 billion from the IRS.
This funding was given to the IRS to improve customer service and crack down on rich tax cheats.
Repealing it actually costs us $46.6 BILLION because of the revenue lost to wealthy tax cheaters.
To help pay for all of these tax breaks for the rich, it also proposes $2.2 trillion in tax HIKES on working families:
—Repeal green energy tax credits
—Take away mortgage interest deduction
—Raise taxes on single parents
—Raise taxes on students
—Axe credit for child care
They also want to tax hospitals and eliminate the charitable deduction for donations to hospitals.
—Make it harder to adjust the poverty line for inflation
—Chip away at Supplemental Security Income (SSI)
—Chip away at Temporary Assistance for Needy Families (TANF)
—Chip away at Supplemental Nutrition Assistance Program (SNAP)
The memo also outlines several methods to weaken:
—The Affordable Care Act
—Medicaid
—Nursing home staff
—Medicare
non-inclusively
