(ALTERNATE) 1. He told you he’d cut your taxes, and that the super-rich like him would pay more. You bought it. But his new tax law does the opposite. By 2027, according to the nonpartisan Tax Policy Center, the richest 1 percent will have got 83 percent of the tax cut and the richest 0.1 percent, 60 percent of it. But more than half of all Americans — 53 percent — will pay more in taxes. As Trump told his wealthy friends at Mar-a-Lago just days after the tax bill became law, “You all just got a lot richer.”

2. He promised to close “special interest loopholes that have been so good for Wall Street investors but unfair to American workers,” especially the notorious “carried interest” loophole for private-equity, hedge fund, and real estate partners. You bought it. But the new tax law keeps the “carried interest” loophole.

Click to continue. By Robert Reich / Robert Reich’s Blog – Feb 4, 2018.

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