Yglesias: What Trump Says Isn’t What His Tax Plan Does
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Most of the benefits flow to the top 1%, as it does with any other Republican running for president.
The issue seems to be that rather than reading Trump’s policy, some reporters paid too much attention to Trump’s rhetoric. Trump’s plan would, in fact, slightly raise the rate paid by managers of hedge funds on some of their income (though he would cut taxes for most hedge fund managers overall), and he said during his speech that his plan “is going to cost me a fortune.”
But while this is what Trump said, it’s pretty clearly not what his plan actually does. A quick analysis by the Center for Tax Justice suggests that about one-third of the financial benefit of Trump’s plan would flow to the richest 1 percent.
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