The Independent: Donald Trump’s tax plans a ‘massive giveaway’ to richest 1%
media mention“Mr Trump also plans to scrap inheritance tax, which is currently only charged on estates worth more than $5.45m (£4.3m) and joint estates of $10.9m (£8.7m), affecting just one in 500 Americans.
‘It’s hard to think of a tax change that will have a more detrimental effect on inequality,’ Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy told the Guardian.
‘There is no question that this will lead to a perpetual income elite – hardly the thing that Trump voters would have wanted. This will lead to a new era of dynastic wealth.'”
Mr Trump also plans to scrap inheritance tax, which is currently only charged on estates worth more than $5.45m (£4.3m) and joint estates of $10.9m (£8.7m), affecting just one in 500 Americans.
“It’s hard to think of a tax change that will have a more detrimental effect on inequality,” Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy told the Guardian.
“There is no question that this will lead to a perpetual income elite – hardly the thing that Trump voters would have wanted. This will lead to a new era of dynastic wealth.”