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The True Cost of Trump’s Tax Plan (with Samantha Jacoby)

The True Cost of Trump’s Tax Plan (with Samantha Jacoby)

FromPitchfork Economics with Nick Hanauer


The True Cost of Trump’s Tax Plan (with Samantha Jacoby)

FromPitchfork Economics with Nick Hanauer

ratings:
Length:
35 minutes
Released:
Mar 19, 2024
Format:
Podcast episode

Description

In his State of the Union Address, President Biden made it clear that taxes and tax policy were his next big target for a middle-out makeover. However, we can't talk about the future of taxes without discussing the potential expiration of Trump’s’ 2017 tax law. Samantha Jacoby, a senior tax analyst at the Center on Budget and Policy Priorities, joins us today to help us understand the repercussions of Trump's tax policies and the opportunities ahead. Trump’s tax law was marketed as a boon for every working American, promising an average annual benefit of $4,000. But Jacoby unveils the true economic reality behind the Trump tax law: the primary beneficiaries were the wealthiest individuals and corporations; they did not pay for themselves as promised; and despite the trillions of tax giveaways to people at the top, most Americans saw no tangible economic benefit.

Samantha Jacoby is a Senior Tax Analyst with the Center on Budget and Policy Priorities. Before joining the Center in 2018, she practiced tax law at two international law firms in New York and Washington, D.C. Previously, she worked as a policy and research analyst at the Solar Energy Industries Association, where she focused on the impact of tax incentives on the renewable energy industry.
 
Twitter: @jacsamoby

The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises
https://www.cbpp.org/research/federal-tax/the-2017-trump-tax-law-was-skewed-to-the-rich-expensive-and-failed-to-deliver 

IRS Funding thread by Samantha on Twitter
https://x.com/jacsamoby/status/1752088112291807298?s=20

After Decades of Costly, Regressive, and Ineffective Tax Cuts, a New Course Is Needed Bipartisan Senate Action Passes Minimal Test for IRS Funding While Multiple House Republican Bills Fail 
https://www.cbpp.org/research/federal-tax/after-decades-of-costly-regressive-and-ineffective-tax-cuts-a-new-course-is 

Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer
Released:
Mar 19, 2024
Format:
Podcast episode

Titles in the series (100)

Any society that allows itself to become radically unequal eventually collapses into an uprising or a police state—or both. Join venture capitalist Nick Hanauer and some of the world’s leading economic and political thinkers in an exploration of who gets what and why. Turns out, everything you learned about economics is wrong. And if we don’t do something about rising inequality, the pitchforks are coming.