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Report: Trump Tax Plan Would Benefit Rich Most

HeadlineSep 20, 2016

In news from the campaign trail, a new investigation of Donald Trump’s tax plan, which he unveiled last week at the New York Economic Club, finds it would create huge tax breaks for the rich, and only much smaller tax breaks for low- and middle-income families. The analysis was done by the D.C. think tank the Tax Foundation. It estimates that under Trump’s plan people earning $5 million could save a staggering $800,000 on their taxes each year. The foundation also found his plan to be enormously expensive, costing at least $10 trillion over a decade. This comes as a New York Times investigation has found that Donald Trump has received at least $885 million in New York City tax breaks for his real estate projects since 1980. The Times also reports Trump successfully sued three mayoral administrations when the city sought to deny him tax breaks for a pair of Trump skyscrapers.

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