While Trump meets with workers today at the White House, where he will certainly lie and claim that massive corporate tax breaks will benefit working Americans, Trump’s Treasury secretary, Steve Mnuchin, has been actually admitting the truth for a change (I know, right).
This morning Mnuchin said they found nothing wrong with companies using tax cuts to benefit their investors, not their workers.
Mnuchin: “I'm sure there will be some companies that do do share buy backs, but I would just say there's nothing wrong with that.”
And yesterday, Mnuchin finally admitted that the Trump tax does, in fact, give tax cuts to the wealthy in violation of his self-branded “Mnuchin rule.”
Van Hollen: “Back in November '16 you said, and I quote, ‘Any reductions we have an upper income taxes will be offset by less deductions so there will be no absolute tax cut for the upper class,’ close quotation. That is not true with respect to the final bill, is it? I mean, there are net tax reductions for the upper class.”
Mnuchin: “There are overall.”