Even more audaciously, Trump said he could achieve such a boon to employment while keeping the national budget deficit neutral. However, with his tax cuts applying to all earners, no matter how wealthy, they would have a regressive effect. The Tax Policy Center has calculated the richest 0.1% would on average see tax cuts under his plan of $1.3m in 2017 compared with just $5,100 for everybody else. Independent analysis has calculated that his tax cuts would bring down federal revenues by almost $10tn (trillion) over a decade, leaving even less fat in the system to cover his other ambitions. “I’m going to lower your taxes, I’m going to get rid of regulation, I’m going to unleash American energy.

Source: The Guardian September 15, 2016 18:56 UTC