2017-10-30 21:20:49

Trump and the GOP Are Hiding The Real Beneficiaries of their Tax Plan

GUEST: Chuck Collins, senior scholar at the Institute for Policy Studies where he directs the Program on Inequality and the Common Good. He has written a number of books including 99 to 1: How Wealth Inequality is Wrecking the World and What We Can Do About It, and Born on Third Base: A One Percenter Makes the Case for Tackling Inequality, Bringing Wealth Home, and Committing to the Common Good. He recently wrote, "An Independent Thinker’s Guide to the Tax Debate."

BACKGROUND: The Republican-dominated House just passed a blueprint for a federal budget with a slim majority. The vote clears the way for the GOP to try to pass Donald Trump's ambitious tax reform plan that will add $1.5 trillion to the federal deficit, despite the party's history of railing against deficits when it comes to social spending.

The President and his party have yet to release details on their tax plan, only offering broad outlines and citing misleading figures from their own analysis of the plan such as the claim that the average American family would get a $4,000 raise.

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