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However, Wayne Winegarden, an economist at thePacific Research Institute, said that might be oversimplifying things.
But from an individuals perspective, things look different, Winegarden said.
Therefore, taxes are set to increase.
Extending the current rates is not a tax cut for the individual.
It is acontinuation of their current tax rates.
Eliminating it would result in substantial tax savings for the wealthiest families.
When coupled with the tariffs, average families would see a very large tax increase.
In addition, Winegarden said that narrowly emphasizing the proposals tax implications on the wealthy is shortsighted.
Wealth inequality is focusing on the wrong question, Winegarden said.
The important question is how to grow incomes and wealth for all families, especially lower income families.
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