Trump’s tax plan is a huge gift for the wealthy, and a disaster for everyone else

[ Originally published on this site as post ]

While Donald Trump is pitching his tax plan as something that benefits the middle class, even a cursory glance at the ill-defined plan shows that in truth it’s a windfall for the extremely rich.

The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity. 

And not only will there be no benefits to the middle class, even the Trump White House admits that their taxes may actually increase.

President Donald Trump’s top economic adviser, Gary Cohn, said today that he can’t guarantee that taxes won’t go up for some middle-class families under the administration’s sweeping tax overhaul. …

Cohn, the director of the White House Economic Council, said Trump’s plan is “purely aimed at middle-class families.” But he acknowledged that “it depends which state you live in.”

The reason for that caveat is that, like the failed Graham-Cassidy healthcare bill, Trump’s tax plan isn’t aimed at just robbing any old middle-class family. It’s designed to especially punish blue states and force a race to the bottom.

Experiments like those of Sam Brownback in Kansas may have turned out to be notorious failures. But Trump’s tax plan is aimed at making every state a Kansas.