Trump’s Proposed Tax Overhaul Would Give Billions to Trump & Cabinet While Sparking Global “Tax War”
<a href="http://www.democracynow.org/2017/10/23/trumps_proposed_tax_overhaul_would_give"><img alt="_s3_trump-tax-cut-for-wealthy1" src="https://www.democracynow.org/images/story/12/39112/w320/_S3_Trump-tax-cut-for-wealthy1.jpg" style="float:right; padding-left:5px;" /></a>As the Senate narrowly passes a budget bill that clears the path for a historic tax reform, we’ll look at how President Trump’s proposed tax overhaul would shower billions of dollars in tax cuts upon the wealthiest Americans—including President Trump’s family and members of his administration. An analysis by the Center for American Progress Action Fund shows President Trump’s family and Trump’s Cabinet members would, combined, reap a $3.5 billion windfall from the proposed repeal of the estate tax alone. Trump’s plan would cap the tax rate on “pass-through income” at 25 percent—a move that would also shower millions in savings upon millionaires and billionaires. We speak with economist James Henry of the Tax Justice Network and Pulitzer Prize-winning journalist David Cay Johnston, whose latest piece is titled “Nine Reasons Trump’s Tax Plan Will Hurt You.”
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