The Final Numbers Are In: Trump’s Tax Plan Is a Huge Windfall For the Wealthy

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I know this is pretty meaningless, but TPC has released its latest—and presumably final—analyses of the Trump and Clinton tax plans. There’s nothing surprising in them: Trump’s plan features gigantic tax cuts for the wealthy and Clinton’s features big tax increases on the wealthy. For the record, here’s how they pencil out:

TPC estimates that Clinton’s plan would raise $1.4 trillion over ten years and reduce the federal deficit by $1.6 trillion. Trump’s plan would cost $6.2 trillion and increase the deficit by $7.2 billion. Needless to say, that’s just for the tax plans themselves. Clinton’s overall budget proposal would be roughly revenue neutral once you account for her spending proposals. Likewise, Trump’s plan might be slightly less of a deficit buster if he cuts spending somewhere—though he’s ruled out most areas of the budget for spending cuts and hasn’t identified any specific cuts in the few areas left.

Assuming that Trump has no sizeable budget cuts in mind, his plan would increase the national debt from about 90 percent of GDP to 115 percent of GDP by 2026. In other words, it’s fiscally conservative, using the modern definition of the term.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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