From Common Dreams: The Rich Get Richer Still

The Trump Tax Plan is Plunder, Plain and Simple.


The Trump tax proposal is appalling (if utterly unsurprising).  It is immoral and it is bad economic policy.  It will make the rich richer, and it will not promote economic growth.  This tax plan is, in its essence, a further redistribution of income from the middle class and the poor to the very rich.  It’s plunder, plain and simple.

Ha Joon Chang, author of 23 Things They Don't Tell You About Capitalism, hits this nail on the head: "Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are—a simple upward redistribution of income, rather than a way to make all of us richer, as we were told."

"Plunder, plain and simple."

The Tax Policy Center estimates that the Trump tax plan would reduce taxes (and thus federal government revenue) by $2.4 trillion over the next ten years.  In 2027, 80% of the tax cut would go to the top one percent.  The one percent (with an average income of $1.4 million per year) would enjoy an average annual tax reduction of $207,000 per household per year.   Those in the top 0.1 percent (with an average annual income of about $28 million) would, on average, enjoy a tax cut of one million dollars per year.    

Read more here.