Wednesday, January 4, 2017
New York Times op-ed: 2016 in Charts. (And Can Trump Deliver in 2017?), by Steven Rattner:
The incoming president has said repeatedly that he would provide the middle class with a “massive tax cut”; his selection for Treasury secretary, Steven Mnuchin, has maintained that the wealthy would receive “no absolute tax cut.” Mr. Trump’s plan, as published on his campaign website, says otherwise. It includes a $6 trillion tax reduction over the next decade, vastly tilted toward business and the wealthy. An estimated 83 percent of the benefits would go to the top 20 percent of Americans and 51 percent to the top 1 percent by 2025. A middle-class taxpayer would receive an average tax benefit of $1,090; a typical member of the top 1 percent would get $317,100.