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Trump tax plan benefits wealthy, including Trump

Trump has pledged repeatedly that the plan would reduce the taxes paid by middle-class families

Binyamin Appelbaum | NYT 

The tax plan that the Trump administration outlined on Wednesday is a potentially huge windfall for the wealthiest Americans. It would not directly benefit the bottom third of the population. As for the middle class, the benefits appear to be modest. The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity. President Donald Trump (pictured) said on Wednesday that the cuts would increase investment and spur growth, creating broader ...

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First Published: Fri, September 29 2017. 02:32 IST