When meeting with the leadership of both parties in Congress regarding tax reform yesterday, Donald Trump assured the American people that his tax reform legislation would not cut taxes for the wealthy, and would instead prioritize the American middle class.
Donald Trump, 9/13/2017: “And, by the way, lower for individuals — much lower than that for individuals. And the rich will not be gaining at all with this plan. We’re looking for the middle class, and we’re looking for jobs.”
Fast forward 24 hours though and Trump’s Treasury Secretary is singing a different tune. Just now, when asked about Trump’s claim that tax reform would not benefit the rich, Secretary Mnuchin flatly contradicted it by revealing that the legislation would still repeal the estate tax – which is only paid by the wealthiest 0.2 percent of all estates.
Treasury Secretary Steve Mnuchin, 9/14/2017: “And even if we do […]Read more after the jump.