Congress has yet to settle on a final draft of a tax-cut bill but if you’re rich, a corporation or your name is Donald Trump you could be in luck
Over the Thanksgiving break Congress will have time to start digesting Donald Trump’s plans to implement the largest tax overhaul in a generation. It already has Trump’s critics – and several leading Republicans – reaching for the Tums.
According to the president, the tax plans had some simple aims: to spur business investment by cutting corporate taxes, give middle-class America a tax break and simplify a byzantine tax system. It hasn’t proved quite so simple, or palatable. With two versions of the bill now under discussion in Congress, the final shape of the plan is still unclear but some losers and winners are emerging. The clear winners? Rich people and corporations. The clear losers? Poor people, the vulnerable. And America.