Last summer, The New York Times reported that the Trump administration was considering using executive authority to deliver what amounts to an across-the-board tax cut for the wealthy.
Specifically, the plan involved Trump bypassing Congress to deliver a $100 billion windfall for the rich by indexing capital gains to inflation.
As we said unequivocally at the time, the plan, were the White House to go ahead with it, would be a flagrant slap in the face to the very same everyday Americans Trump claims to represent and who came out to vote for his populist agenda in droves in 2016.
A month later, in an interview with Bloomberg, Trump confirmed that he was, in fact, pondering the legally dubious maneuver. Not to put too fine a point on it, but it almost sounded like he was trolling the poor. “I’m thinking about it”, the president said. “There a lot of people that love it, there are a lot of people that don’t”, he continued, adding that “it’s a stimulus".
No, it's not. It's a handout to the wealthy, just like his tax package. The only thing it would "stimulate" is purchases of fine art, jewelry and yachts.
Read more: In Brazen Move, Trump Considers $100 Billion T
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