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&#8217;ll look at how President Trump&#8217;s proposed tax overhaul would shower billions of dollars in tax cuts upon the wealthiest Americans—including President Trump&#8217;s family and members of his administration. An analysis by the Center for American Progress Action Fund shows President Trump&#8217;s family and Trump&#8217;s Cabinet members would, combined, reap a $3.5 billion windfall from the proposed repeal of the estate tax alone. Trump&#8217;s plan would cap the tax rate on &#8220;pass-through income&#8221; 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 &#8220;Nine Reasons Trump&#8217;s Tax Plan Will Hurt You.&#8221;

Syndicated from Democracy Now!.

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