Videos

Trump’s Tax Cuts Aren’t For You

Written by Mark

Virtually all of Trump’s tax cuts go to the top 1%. Cenk Uygur and John Iadarola, hosts of The Young Turks, discuss. Tell us what you think in the comment section below. http://www.tytnetwork.com/join

“According to the Tax Policy Center, the cuts that Team Trump included in their bullet-point outline last April could result in a loss of revenue between $3.4 trillion and $7.8 trillion over 10 years. To whom will those benefits go? We’ll give you two guesses, but you’ll only need one. Here’s Vox:

The package, the TPC finds, would overwhelmingly help the wealthy. Including the tax hikes [like doing away with personal exemptions and other common deductions], the overall plan would give the average family earning under $25,000 per year a $40 tax cut, or a 0.3 percent boost in after-tax income. The top 0.1 percent, earning above $3.4 million a year, would get an average tax cut of $937,700, or a 13.3 percent boost in after-tax income.

But wait, hasn’t Team Trump pitched their tax plan as a benefit for the middle and lower class that “isn’t about a dramatic cut in taxes for the wealthy,” as Treasury Secretary Steven Mnuchin said in April?…”*

Read more here: http://www.vanityfair.com/news/2017/07/trumps-tax-plan-23500-times-better-for-the-ultra-rich-than-the-poor

Hosts: Cenk Uygur, John Iadarola

Cast: Cenk Uygur, John Iadarola

***

The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 6-8pm ET. http://www.tytnetwork.com/live

Subscribe to The Young Turks on YouTube: http://www.youtube.com/subscription_center?add_user=theyoungturks

Like The Young Turks on Facebook: http://facebook.com/theyoungturks
Follow The Young Turks on Twitter: http://twitter.com/theyoungturks

Buy TYT Merch: http://www.shoptyt.com

Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at http://www.tytnetwork.com/join/. Your membership supports the day to day operations and is vital for our continued success and growth.

Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)

About the author

Mark

Leave a Comment