Like Senator Cassidy Lied to Jimmy Kimmel; Trump Lies About Tax Relief for the Wealthy Disguised as Tax Reform

Government by the Rich, Of the Rich, For the Rich

The Republicans have succeeded in fooling the media into calling tax cuts for wealthy American tax reform. And of course none of them will point out this lie by Donnie the Trump.

“My plan is for the working people and my plan is for jobs,” President Trump said Wednesday. “No, I don’t benefit, I don’t benefit. In fact, very, very strongly, as you see, I think there’s very little benefit for people of wealth.”

Well, let's see. First of all the proposal reduces the top rate. Assuming Trump is actually as rich as he brags, this is a huge benefit for him. But wait, there's more. Much of Trump's income comes from pass through entities like partnerships. That rate will be only 25%, down from 39%. Another Trump bennie.

And what else? Well the Estate Tax is eliminated, something that will benefit only multi-millionaires. And the Alternative Minimum Tax which is something that kept Trump from paying about zero tax in the one year we have tax info on him for is gone.

Of course, for middle income taxpayers who, gasp, live in Democratic states they will lose the deduction for state and local taxes.

So yes, tax fraud Republican style. Exactly what did you expect, a big tax cut for wealthy high profit corporations?  Oh, right, there's that too.