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Trump Tax Plan Based On Fuzzy Math; Gives Rich Tax Break

According to an analysis by the The New York Times Company (NYSE:NYT), the tax plan released by presidential candidate Donald Trump on Monday does not come anywhere close to living up to the rhetoric he has spouted on taxes for months. In fact, a closer look shows the Trump tax plan in effect gives tax breaks to both the rich and poor, and would almost certainly result in less total tax revenue flowing into federal coffers.

Trump Tax Plan

As the NYT's Josh Barro notes, Donald Trump has not sounded like the typical Republican when it comes to taxes. On the campaign trail he has said he will take on “the hedge fund guys” and do away with the carried interest loophole. He has commented it’s “outrageous” that some multimillionaires pay so little taxes.

But despite that big talk by Trump, his plan calls for major tax cuts for the middle class and also for the richest Americans...even the hedge fund managers! It looks like the Trump tax plan is...