You can read The Times Editorial Board’s analysis — that the plan relies on the discredited notion that tax cuts for the rich help everyone — here. Howard Gleckman of the Tax Policy Center, probably the single best source for tax analysis, writes that the plan “may cut taxes modestly for some middle-income households, but it appears to be a far bigger tax cut for high-income households.”Wealthy households, Gleckman explains, would benefit from individual rate cuts, repeal of both the alternative minimum tax and the estate tax, as well as tax cuts for corporations and “pass-through” businesses (such as sole proprietorships and partnerships). And the tax cuts for the affluent are so large — trillions of dollars over the coming decade, says Lily Batchelder of N.Y.U. View all New York Times newsletters. Advertisement Continue reading the main storyYou can watch a video of Trump’s tax speech here.

Source: New York Times September 28, 2017 11:48 UTC