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  • Home>The five or six dumbest things about Trump's tax bill

    The five or six dumbest things about Trump's tax bill

    The five or six dumbest things about Trump's tax bill

    11/07/2017

    By Tim Mullaney

    Broken promises, warped priorities, and loving tax cuts more than life itself

    Wow, our new President sets a heady pace. No sooner had I all but finished a column tearing Donald Trump a new one over the five dumbest things in his tax bill, when the Tax Policy Center released an analysis that should anesthetize this sorry exercise -- it seems Trump "biggest tax cut in history" will raise taxes for 28% of the population by 2027, including millions of families making $55,000 or less.

    And that's the dumbest thing of all.

    As we've said, the bill would be a massive upward redistribution of wealth, (http://www.marketwatch.com/story/the-gop-has-your-mortgage-tax-break-in-its-sights-2017-08-08) eliminating taxes on inheriting millions while scrapping deductions for, among other things, paying interest on student loans to build skills or for moving to another city to take a new job.

    Because, as Leona Helmsley almost said, working (like paying taxes) is for the little people.

    The TPC filled in some blanks Monday, making me rewrite at least part of this.

    And then -- in keeping with the idea it's hard to keep up with Trump-related shenanigans, TPC pulled its analysis to fix calculation errors related to tax credits for children. A new analysis will be out soon. (Parts of this column have been revised to reflect TPC's decision).