Among the likely winners
Guess who would benefit from Trump’s (sketched) tax plan?
Oh darn you must have peeked. That’s right: it’s the man himself.
Among the likely winners in President Donald Trump’s tax-cut plan would be a real estate developer turned reality TV star who now happens to occupy the White House.
The one-page proposal released Wednesday seems sure to benefit the president’s businesses. It would eliminate the estate tax, repeal the alternative minimum tax that affects some affluent people, deeply slash corporate rates and reduce investment taxes — all of which could in theory benefit a billionaire real estate magnate like Trump.
It’s a sensitive subject for a White House that is telling Americans its proposed cuts to individual and corporate tax rates would aid the middle class and fuel stronger economic growth.
Well, if they will believe a lying cheating stealing real estate hustler when he tells them he’s on their side…but then not all of them did, did they. We like to “elect” people with fewer votes than the closest rival.
When Trump’s spokesman, Sean Spicer, was asked by reporters Thursday whether it was fair to inquire about the benefits that the tax cuts would provide for the president and his family, he sidestepped the question.
“I would guess that most Americans would applaud what the president is doing,” Spicer said.
Aw quit lying, Spicey. No you wouldn’t. Most Americans think Trump sucks, and some of them can spot a tax cut for the rich when it’s in front of their noses.
The plan calls for the elimination of the Alternative Minimum Tax, which raises the federal tax bill of wealthy Americans like Trump who would otherwise capitalize on special tax breaks to pay far less. The benefit to Trump could run as high as tens of millions of dollars a year. According to recently leaked Trump documents from 2005 cited by Pelosi, Trump paid $36.5 million in federal taxes that year because of the AMT. Without it, he would have owed just $5.5 million.
But that’s not why he wants to eliminate the AMT. No no no. It’s all about stimulating growth.
That’s not actually a lie, Ophelia. It would stimulate growth – growth of Trump’s bank account. Growth of ugly gaudy hotels covered in gold. Growth of Trump’s ego. Is that growth we can believe in?
I can’t. That sort of growth is ugly and revolting.
The kind to eradicate with highly selective poisons, radiation and extirpation. In the case of human patients.