Link to this page: http://www.socialistparty.org.uk/issue/972/26511
From The Socialist newspaper, 22 November 2017
Trump's tax attacks
Hated Republican president Donald Trump, photo Gage Skidmore (Creative Commons) (Click to enlarge)
Billionaire president Donald Trump is desperate to get his tax plans through the US Senate.
No wonder. Trump wants to abolish the estate tax paid when you die. It is currently paid only on estates worth at least $5.5 million - or $11 million in the case of a couple.
It is charged at just 40% on net worth above that. And because of a multimillion-dollar exemption, the average paid is only about 17%.
Steven Mnuchin is Trump's treasury secretary. Commenting on Trump's efforts to repeal it, he bluntly admitted last month: "Obviously, the estate tax, I will concede, disproportionately helps rich people."
Paul Gerrard, Salford Socialist Party
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In The Socialist 22 November 2017:
What we think
Budget: lying Hammond says no unemployed
What does the left victory in Scottish Labour mean?
International socialist news and analysis
Zimbabwe: Mugabe gone - but his regime remains in power
Australia: massive yes vote for marriage equality
Trump's tax attacks
Workplace news and analysis
Scotland: BiFab workers' occupation and march secures jobs and pay guarantee
Usdaw general secretary coronation
Leeds college workers protest poor pay rises
Virgin train workers vote for strike action over pay
Sheffield Eastern Ave Job Centre strike ends
Posh estate agent's housing crisis solution: make your own sandwiches
Them & us
Councils' £1bn on commercial property
Socialist Party news and analysis
NHS cuts kill!
Gentrification on the terraces: fans say twenty's plenty
Carbon dioxide hits 800,000-year high: end profit-driven pollution
Lively student demonstration for free education could have been much bigger
Socialism 2017 Socialist Students meet-up
Socialist Party reports and campaigns
Nottingham 'Reclaim the Night' march highlights cuts
Southampton: Corbynista success but cuts continue
Socialist readers' comments and reviews
Disability cuts outrage: my story
Left comic's take on politics will have you in tears
The Socialist inbox
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