The Wall Street Journal reports today that Trump plans tax cuts for everyone but the biggest cuts go to those in the 1%. To see the graphs, buy today’s WSJ.
“Nearly half the benefits of the plan, and a higher proportion of savings, would go to the top 1%
Steven Mnuchin, the likely next Treasury secretary, this week said rich U.S. taxpayers won’t get “an absolute tax cut” under President-elect Donald Trump. But that is not what Mr. Trump says in his taxation plan. In fact, under his approach the wealthy would receive an average tax cut of about $215,000 per household, experts say.
“In Mr. Trump’s plan, Americans in different income ranges would divide up several hundred billion dollars of revenue cuts for 2017. As a result, Americans would, on average, receive a lower tax bill for 2017 compared with current law.
“The way to think of the plan…
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