Demos Statement on Trump’s Reckless Tax Plan

Release Date: 
April 26, 2017

April 26, 2017 (New York, NY) – In response to Donald Trump’s proposed tax plan, Tamara Draut, Vice President of Policy & Research at Demos, a NY based public policy think tank, issued the following statement:

“This tax proposal shows once again that Donald Trump is no populist, but rather is hewing to traditional conservative and Republican philosophies, including doubling down on the failed experiment of trickle-down economics.

“Our current tax system already privileges the wealthy and rich corporations, providing too many loopholes and opportunities to dodge paying taxes—leaving our nation without the resources it needs to meet the needs of our people. Trump’s proposal doubles down on helping corporations avoid paying a fair share of taxes. He even proposes cutting taxes for hedge funds and complex real estate entities like his own. Our nation is woefully under-investing in our people and our future. Among advanced economies, only three nations—Chile, Mexico and Korea—collect less revenue as a percentage of GDP than the United States. Trump’s proposal would further short-change America.

“Americans deserve a tax plan that will address the gross injustices in the tax code and raise the revenue our nation needs to fix our crumbling roads and poisoned water systems, to invest in our public schools and teachers, and to build the energy economy of the future. It’s all the more galling that Donald Trump is keeping his own tax returns in the shadows while rolling out a tax proposal that appears to benefit himself, his cabinet of millionaire and billionaires and his corporate political donors. The people of the United States deserve better."