But It’s Been Great for the Super-Rich and the Corporations They Control
Donald Trump’s tax cut for the rich and the corporations they control is turning out to be a bust for the American economy.
It will burden taxpayers with at least $1.5 trillion more federal debt because, instead of boosting tax revenues through increased economic activity as promised; it has caused a sharp drop in revenue.
In addition, millions of residents of blue states are about to get hit with big federal income tax increases while many American expatriates who own businesses overseas are also facing unexpected new tax bills, especially if they prudently saved for old age under the systems of the countries where they now reside.
View the complete January 31 article by David Cay Johnston on the DCReports.org website here.