But like in any pyramid scheme, with Trump's proposals, the ones at the very top will benefit while everyone else loses out.
Under Trump's massive $12 trillion tax plan, "the top 1 percent of Americans will receive an average tax break of $227,000 per year while the bottom 20 percent will receive an average tax cut of only $250," according to Citizens for Tax Justice, which found that "the majority of Trump's tax cut would go to the top five percent of taxpayers."
But the biggest winners of Trump's tax cut won't be the top five percent. They won't even be the top one percent.
"[T]he benefits would be overwhelmingly skewed to the highest-income taxpayers, with those in the top 0.1 percent (who make $3.7 million or more) getting an average tax cut of more than $1.3 million," says Howard Gleckman of the Tax Policy Center.
Forget about Voodoo Economics. This is Pyramid Scheme Economics.
The supposedly populist candidate also promises to pay off the entire $19 trillion national debt in just eight years -- "very easy" -- but one estimate found that his huge tax cut for the rich alone will grow the debt by almost 80 percent.
Just fulfilling his pledge to balance the budget would be mathematically impossible under the proposal he has laid out to do so.
Trump's plan, if ever implemented, would wreck the economy. And that is not even counting the human and economic costs of his massive deportation scheme.
Donald Trump's Pyramid Scheme for America Donald Trump's Pyramid Scheme for AmericaTrump the businessman knows a little something about pyramid schemes. He has endorsed, and in some cases put his...
Under Trump's massive $12 trillion tax plan, "the top 1 percent of Americans will receive an average tax break of $227,000 per year while the bottom 20 percent will receive an average tax cut of only $250," according to Citizens for Tax Justice, which found that "the majority of Trump's tax cut would go to the top five percent of taxpayers."
But the biggest winners of Trump's tax cut won't be the top five percent. They won't even be the top one percent.
"[T]he benefits would be overwhelmingly skewed to the highest-income taxpayers, with those in the top 0.1 percent (who make $3.7 million or more) getting an average tax cut of more than $1.3 million," says Howard Gleckman of the Tax Policy Center.
Forget about Voodoo Economics. This is Pyramid Scheme Economics.
The supposedly populist candidate also promises to pay off the entire $19 trillion national debt in just eight years -- "very easy" -- but one estimate found that his huge tax cut for the rich alone will grow the debt by almost 80 percent.
Just fulfilling his pledge to balance the budget would be mathematically impossible under the proposal he has laid out to do so.
Trump's plan, if ever implemented, would wreck the economy. And that is not even counting the human and economic costs of his massive deportation scheme.
Donald Trump's Pyramid Scheme for America Donald Trump's Pyramid Scheme for AmericaTrump the businessman knows a little something about pyramid schemes. He has endorsed, and in some cases put his...
