Trump's Tax Overhaul Would Give Billions to Trump & Cabinet While Sparking Global "Tax War"

[red dog 1]

Democracy Now
October 23, 2017


As the Senate narrowly passes a budget bill that clears the way 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 among millionaires and billionaires.

We speak with economist James Henry of the Tax Justice Network and the Pulitzer Prize-winning journalist David Cay Johnston, whose latest piece is titled: "Nine Reasons Trump's Tax Plan Will Hurt You"

Watch full show - Read transcript:
http://www.democracynow.org/2017/10/23/trumps_proposed_tax_overhaul_would_give

If link doesn't work, Google:
"Trump's Proposed Tax Overhaul Would Give Billions to Trump & Cabinet While Sparking Global "Tax War"



(From last Thursday)
"51 GOP Senators Just Voted to Cut $1.5 Trillion from Medicare and Medicaid"
https://www.democraticunderground.com/10029732484

[Eliot Rosewater]

1. And they are gonna do it, soon it is all gonna be gone.

But hey, sure this is bad, but surely not as bad as ... ... ooops...almost did it again

[Wellstone ruled]

2. Well,the bottom 47%

will see their Income Tax increase significantly. It's all in the Tax Tables and the deductions that will disappear. From what we hear,looking at about a Grand a year and that will not include major increase in Medicare Insurance as well as increases in Insurance deductibles and for those with Pre Existing conditions,watch out.