DAY 234: America's income increased with Obama; Trump could undo it

The US Census Bureau released figures today confirming that the median household income in American increased for the second year in a row in 2016, the last full year Barack Obama was in office. The oncrease in median income is equivalent to 3.2%.

Additionally, poverty decreased with Obama. But now Donald Trump's tax cut proposal for the rich could undo the economic progress for the middle class achieved under the Obama policies.

Which is probably why the Republicans in Congress are playing the same game they played with Obamacare. They know it's a stupid idea to repeal it and they know they voted several times to repeal it during the Obama administration just to pander to their base, but now they don't want to acknowledge it publicly.

Which is why the Republicans are playing the "division" game, in which some Republicans won't approve Trump's elimination of popular deductions and some will, creating a division that in reality is a way to cover the fact that Republicans know Trump's tax plan is terrible.

Cutting deductions, such as the mortgage intrest deduction, would be one of the ways in which Trump pretends to cover the whole in the country's finances caused by his tax cut plan for the rich, which would lower the corporate tax rate from 35% to 15%. Without eliminating deductions for the middle class, Trump would not be able to pass the tax cut for the rich without causing a huge deficit.

Which means the middle class would lose the income gains they had under Obama if Trump gets his tax cut.

To make matters worse, Steve Mnuchin, Trump's Treasury secretary, says that if Trump doesn't get his tax cut through a bipartisan vote, he will push the Republicans to pass it with a simple majority through budget reconciliation.

Meaning as long as Trump is in power, the middle class will always be at risk of being screwed over just the rich can pay fewer taxes.