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Trump Tax Plan Would Cost More than $10 Trillion Over 10 Years


Trump Tax Plan Would Cost More than $10 Trillion Over 10 Years

WASHINGTON - Donald Trump released a tax plan today that is missing some details. But a preliminary analysis of the plan by Citizens for Tax Justice finds that it would cost more than $10 trillion in its first decade. The plan would reduce taxes on all income groups, but by far the biggest beneficiaries would be the very wealthy.

Following is a statement about the plan by Robert McIntyre, director of Citizens for Tax Justice:



Trump's phony baloney tax plan is just the usual GOP crap fest, voodoo (doo) trickle down nonsense. The rich are the big winners with: the top marginal tax rate dropping from 39.6% to 25%, the corporate tax rate plummets from 35% to 15% and he eliminates the estate tax. This from the party that is always screaming about the national debt and the deficits. The deficits will sky rocket because he is reducing revenue; this will set the stage for the GOP wet dream to cut the social programs that help the poor and the middle classes. He's cutting income taxes to zero for those with $25K in income or less. Big flip, these people are paying little if any income taxes as it is. He's a shameless charlatan.