Path 2

Thursday, Apr 27 2017

The Truth About Trump's Tax Plan, Courtesy of Steve Mnuchin

Apr 27, 2017

REALITY: Trump’s Plan Is All About Tax Cuts For Big Corporations & Trump, No Guarantee for the Middle Class
This morning Treasury Secretary Steve Mnuchin was forced to admit the truth: Trump’s tax scheme is all about lower taxes for big corporations and for Donald Trump himself – possibly to as little as 5% on certain income. Meanwhile, he couldn’t promise that Trump wouldn’t force higher taxes on the middle class.  

Under Trump’s Tax Plan, Trump Could Pay Less Than 5% Tax Rate On $150 Million In Income


Stephanopoulos: We know from the last Trump tax return we’ve seen that was back in 2005 it shows the potential effect of eliminating the Alternative Minimum Tax which you are calling for right now, that year he paid $38 million in taxes on $153 million in income. Without the Alternative Minimum Tax he would have paid $7 million, that is less than a 5% rate. So is that an acceptable outcome on your plan, that someone pay less than a 5% rate on more than $150 million in income?

Mnuchin: Yeah, and I’m not going to comment on the specifics of that

Trump’s Tax Plan ‘Is About Lowering The Business Taxes For Big Corporations’

Mnuchin: So this is about lowering the business taxes for both big corporations and small and medium-sized businesses. 

No Guarantee Trump’s Tax Plan Wont Raise Taxes On The Middle Class

Stephanopoulos: Can you guarantee that no one in the middle class is going to pay more? 

Mnuchin: That’s the objective, absolutely.
Stephanopoulos: Is it a guarantee?
Mnuchin: I can’t make guarantees.

Published: Apr 27, 2017

Jump to Content