On the campaign trail, Trump released a tax plan I felt was hideous and disastrous. Not only would it punish middle and lower income families by getting rid of the “head of household” deduction, but the sheer number of tax cuts for the wealthy would only add to the growing federal deficit.
But was his newer tax plan any better?
The principles of Trump’s amended tax plan were presented in a one-page document on Wednesday, April 26, 2017. The plan was discussed by former Goldman Sachs executive and National Economic Council Director Gary Cohn and Treasury Secretary Steve “Foreclosure King” Mnuchin.
The plan was expected to cost trillions of dollars in what would be the largest “tax reform” in over 30 years.