“A Land Grab by the Ruling Elites”: Trump’s Tax Plan Derided for Benefiting the Rich

The White House has outlined a plan to give the nation’s millionaires and billionaires a massive tax break while adding trillions of dollars to the U.S. deficit. The plan would lower the corporate tax rate to 15 percent, end the estate tax and end the alternative minimum tax—a move that would solely benefit the richest Americans, including President Trump. A leaked 2005 tax return shows Trump paid out $36.6 million in federal income taxes that year—most of it due to the alternative minimum tax. Former Labor Secretary Robert Reich described Trump’s tax plan as a form of class warfare. The tax plan was unveiled on Wednesday by two former executives at Goldman Sachs—Trump’s chief economic adviser Gary Cohn and Treasury Secretary Steven Mnuchin—who hailed the tax cuts. We speak to economist James Henry of the Tax Justice Network.

via “A Land Grab by the Ruling Elites”: Trump’s Tax Plan Derided for Benefiting the Rich | Democracy Now!

Advertisements
Shiraz Socialist

Because there have to be some lefties with a social life

Melbourne Antifascists

Touch One, Touch All

DISACCORDS

An anarchist news blotter following events in Oceania & South East Asia

Maruti Suzuki Workers Union

Inquilab Zindabad! Mazdoor Ekta Zindabad!

The Syrian Intifada

a-shab yurid iskat an-nizam

In Moscow's Shadows

Analysis and Assessment of Russian Crime and Security

thekooriwoman

Gomeroi. This is MY truth.

Secular Pakistan

No Talibanisation, 'Honour' Killings, Blasphemy Vendetta

Transform Society

A site that educates & inspires souls

Ahona

Mariam Zohra D

My Name is Jamie. My Life in Prison

Letters shared with Sonni Quick

Free Haifa

Reading, Writing and Freedom Arithmetics

A Black Writer in Berlin

The official blog of Phil Lewis, award-winning novelist, essayist, poet, critic, artist and composer

Why You Mad Son Entertainment

join the revolution of the mind

bedlamfury

Thoughts, Random Senses

Ramblings...

Conquering Kids and cancer

The Rojava Report

News from the Revolution in Rojava and Wider Kurdistan

rob's revolting

The colonies are self-destructing - it's a scorched earth policy, a war of attrition, so the survivors are left with NOTHING!