Trump's tax plan is very simple

The Committee for a Responsible Federal Budget projects that the just-released plan would cut $5.5 trillion of the federal government's income, over 10 years. the cost is still astronomical. But it is very good for Trump and his family and the 1% plutocrats who rule America.

This part is from Vanity Fair:

Shortly after golf course owner Donald Trump was improbably elected president of the United States, campaign adviser and soon-to-be Treasury Secretary Steven Mnuchin boldly claimed that his boss’s tax plan would, in no uncertain terms, provide “no absolute tax cut for the upper class.” Mnuchin, God love him, had apparently momentarily forgotten who he was working for: a man who, in his 70 years on earth, has appeared to be solely motivated by personally enriching himself and his heirs and not much nothing else. Of course any tax plan Trump unveiled was going to provide a massive tax cut to Trump’s cohorts in the upper class. The only question that remained was exactly how much of a tax cut Trump was going to propose for himself.

Today, we got an answer: a really freaking big one. As was widely expected, the Trump administration has called for slashing the corporate tax rate from 35 percent to 15 percent. Because the Trump Organization is structured as a “pass through,” the majority of Trump’s income is taxed through that system, meaning that bringing the corporate tax rate down to 15 would effectively cut the president’s own tax liability by more than half. How did Trump defend the thinly disguised plan to set himself up to afford the worst hair dye money can buy for years to come? He didn’t, leaving the job to Mnuchin and fellow Goldman Sachs alum Gary Cohn, the National Economic Council director.

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Mnuchin saying he was unable to answer any questions about exactly how much Trump will benefit from the proposed plan on account of not having “access” to his tax returns while simultaneously claiming that the 45th president has “released plenty of information and . . . has given more financial disclosure than anybody else.” Mnuchin reiterated that Trump has “no intention” of releasing his tax returns.

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Shoutout to the Trump kids! Cohn confirmed that the president wants to “immediately phase out” the so-called “death tax,” i.e. the estate tax, which the New York Times notes Trump has “railed against for years.” Cohn, hilariously, claimed that getting rid of the death tax is all about helping “American farmers” and other small business owners who are passing their companies onto the next generation, and not the children of multi-billionaires who don’t want to pay taxes on their inheritance.

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On the matter of how the administration plans to make up for the loss of revenue based on these tax cuts—so far the White House has repeated the Republican adage that the cuts “will pay for themselves”—the best Mnuchin could muster was: “There’s lots and lots of details that are going into how that will pay for itself,” without actually going into said details. For the most part, “We’re working with Congress on the details,” was the answer to nearly every question posed to Mnuchin and Cohn.