Search This Blog

Defying the Odds

Defying the Odds
New book about the 2016 election.

Thursday, September 14, 2017

Tax Reform: The Rich Will Gain

In Defying the Odds, we discuss the tax issue in the 2016 campaign. Trump railed against special interests and claimed to be the champion of ordinary Americans.

Yesterday, he said of tax reform: " the rich will not be gaining at all with this plan."

That makes no sense.  In 2014, the latest year for which data are available, to the Tax Foundation finds that the top 25 percent of filers paid 87 percent of federal income tax, and the top ten percent paid 71 percent. The top 1 percent of taxpayers paid more than than the bottom 90 percent put together.

How could the rich not gain from his tax scheme?