Trump Planning to Hold Tax Plan Theater on Wednesday

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Here’s all you need to know about President Trump’s tax plan:

Mr. Trump’s aides have been working on a detailed tax proposal, but that isn’t ready yet. The announcement on Wednesday is expected to focus instead on broader principles….Mr. Trump’s statement last week that he would announce details of his plan later this week caught his team off guard, said people familiar with the matter.

In other words, it’s all theater. On Wednesday we’ll get a vague description of “broader principles” that will include gigantic cuts in the top rates for both individuals and corporations, along with just enough eye candy for the middle class that Trump can pretend it’s a tax cut for everyone. It will basically be a campaign document with a few extra tidbits so that Trump can claim to have released his “tax plan” during his first hundred days.

The benefit of staying vague, by the way, is that it’s impossible to score his plan until every detail is filled in. Still, I expect the usual suspects at the Tax Foundation and the Tax Policy Center will try. So where do you think they’ll end up? My guess is that it will cost $4 trillion, of which 95 percent will go to the top 10 percent. Enter your guess in comments. The winner gets the most precious thing I have to offer: a tweet that announces their victorious prediction.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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