US President Donald Trump’s tax plan is an “abomination” that will make America’s wealthy even richer at the expense of ordinary people, says a Chicago-based political analyst.
“It is wonderful for corporate presidents and for America’s super rich,” Stephen Lendman, an author and radio host, told Press TV on Sunday. “The idea behind the tax scheme is to transfer more of America’s wealth from… the vast majority of Americans to its privileged class.”
The Trump administration and congressional Republicans in Congress are forcefully pushing ahead on a measure that is supposed to cut taxes for corporations.
The White House Council of Economic Advisers promises that the corporate tax cut, to 20 percent from 35 percent, would lead to more hiring and increase the average household income by at least $4,000 a year.
However, surveys show that most Americans oppose the plan as more studies warn of its possible consequences for the…