Money Morning: Trump’s Tax Plan Gives Perks to the “1%,” Shirks Everyone Else

The White House has just 12 days to fix a glaring flaw in President Donald Trump’s tax plan.

That’s because just this morning (Sept. 13), his administration promised to provide further specifics on that plan no later than Monday, Sept. 25.

So what’s the flaw?

The Institute on Taxation and Economic Policy (ITEP) has found that Trump’s tax proposal, if implemented according to the guidelines released on April 26, would reduce the share of taxes paid by America’s “top 1%,” while it would increase the share of taxes paid by the middle class.

The middle class will pay more, and the richest people in the country will pay less. Read more

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