Donald Trump Goes After the Upper Middle Class Vote

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Donald Trump is giving a big economic policy speech this morning. So what is he proposing?

Who benefits most from this? Answer: the upper middle class. If you’re poor, a tax deduction helps very little because your child-related expenses are low (thanks to being poor) and your tax rate is 10 percent or less, so you get to write off a pittance at most. If you’re rich it doesn’t help much because it’s chump change. But if you’re in the upper middle class, it’s great. Your tax rate is probably around 20-30 percent, so you can write off a fair amount, and it’s a meaningful sum of money. So it’s great for all the lawyers and doctors out there.

By contrast, a tax credit is the same for everyone. The poor get $2,000. The middle class gets $2,000. The rich get $2,000. The rich still don’t care much, but both the poor and the middle class benefit. But that’s not what Trump is proposing. Like Republicans everywhere, he and his economic team just don’t care much about the poor or the working class.

More importantly, though, neither a child tax deduction nor a child tax credit mean anything to me. I don’t have kids. So where’s the blogger tax deduction? Or the write-off for cat-related expenses? What is Donald Trump doing to try to buy my vote?

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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