Passing The Buck

Most tremendous tax avoider August 10, 2016 PASSING THE BUCK ICYMI, Trump and his army of only white men, mostly named Steve, unveiled a new tax plan which doesn't do anything new as it still disproportionately benefits the very richest Americans. Helping rich people avoid taxes seems to be Trump's forte. According to a new analysis from the Center for American Progress Action Fund, Donald Trump has exploited a tax loophole to profit from at least 68 business entities. The loophole is called a pass-through, which essentially lets big businesses use a tax trick that wasn't intended for them, allowing big businesses to avoid paying their fair share of taxes. And pass-throughs cost a pretty penny—actually, a whopping $790 billion between 2003 and 2012 to be exact. While many claim that pass-through rules exist to help small businesses, in reality the loophole mainly benefits those in big business, including billionaires like Donald Trump (well, alleged billionaire since he still hasn't released his tax returns). And to make sure he can avoid even more taxes, Trump's tax plan doubles down on pass-throughs as a tax avoidance strategy by creating a new, very low top tax rate for pass-through income of 15 percent. Not surprising from a man who says "I fight very hard to pay as little tax as possible." But while Trump fights to help the wealthy avoid taxes, working families are going to be left footing the bill. WHAT'S TRENDING His limit does not exist. Thought this was supposed to be a serious week for the Trump campaign? Think again. Just a day after laying out a not-so-new economic plan in Detroit, the Donald unleashed another slew of reckless and offensive comments, about his opponent Hillary Clinton. At a campaign rally in Raleigh yesterday, the Republican nominee suggested that "Second Amendment people" (a.k.a. gun owners) may be able to stop Hillary Clinton from appointing liberal Supreme Court Justices. Now, DJT is insisting his comments were referring to the political power of gun owners. Speaker Ryan (R-WI) fresh off a landslide primary victory last night despite not being endorsed and then being endorsed by Donald Trump also said Trump's comments were a joke. And a Ku Klux Klansman from 50 years ago may be the reason Trump won't face charges for inciting violence against his opponent. 147 days later. Free idea for a new horror movie and also a reminder that Senate Republicans' refusal to hold a hearing for Supreme Court nominee Merrick Garland is the reason there even is still a Supreme Court vacancy for Trump to incite violence over. One step forward, two steps back. After Monday, it seems like DJT has finally realized what we've been saying all along: that America is facing a child care crisis. Unfortunately, his new child care plan won't address that crisis, and, like the rest of his economic plan, would primarily benefit the rich while leaving working families in a bind. Share On Twitter Déjà vu. Four more cases of Zika were confirmed in Miami, bringing the total number of locally transmitted cases in the United States to 21. Yesterday, Hillary Clinton called Zika "one of the canaries in the mine," of climate change. Meanwhile Donald Trump still only acknowledges that climate change exists at his own golf course. Ultimatums. Kentucky Governor Matt Bevin (R) has one for the federal government. The state is taking action to shut down Kynect, the state-run ACA marketplace, to switch to the federal marketplace and proposing a Medicaid wavier that would reduce the number of people covered under Medicaid expansion in the state. Here's what that means for Kentuckians' health. It's not good. Progress Report | CAP Action Fund 1333 H ST NW | Washington, DC 20005 Contributions to Center for American Progress Action Fund are not tax deductible Donate | Manage Email Options | Privacy Policy | Unsubscribe This email was sent to ignoble.experiment@arconati.us. Did someone forward you this email? Sign up for the Progress Report here.