Treasury Secretary Can't Guarantee Whether Middle Class Will Benefit From Trump Tax Plan

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); Treasury Secretary Steve Mnuchin on Thursday argued that President Donald Trumps proposed tax plan would benefit the middle class ' but he wouldnt say definitively whether middle-class Americans would pay more or less under the plan.Like the plan itself, unveiled Wednesday, Mnuchins explanation was short on details.This is about middle-income tax cuts, the secretary told ABCs George Stephanopoulos.Although were not releasing the specific numbers, this is about creating economic effects and tax cuts for the middle class.But when asked if he could ensure that the middle class would not pay more under the plan, Mnuchin would not say, claiming the details werevery complicated.I cant make any guarantees until this is done and on the presidents desk, he said. But he added that this is our number one objective.Will no one in the middle class pay more taxes'"That's our objective... I can't make guarantees until this is done..." - Sec. Mnuchin pic.twitter.com/0HI2PVxqaW Good Morning America (@GMA) April 27, 2017 When Stephanopoulos noted that the proposed tax planwould primarily reduce taxes for the rich, Mnuchin claimed that it was not final.In my plan, theyre going down, but by the time its negotiated, theyll go up, Mnuchin said. Thats the objective, and well see where we get from here.Trumps tax plan includes changes such as cutting the corporate tax rate in half,eliminating inheritance taxes for rich heirs and heiresses, and lowering the tax rate for stocks and investments, all of which would help the wealthy.Some of the plans provisions would likely benefit Trump himself.But Mnuchin, a former Goldman Sachs executive, dismissed those concerns, claiming again, without evidence, that the plan would help the little guy.Let me say, this isnt about President Trumps tax returns, Mnuchin said. This is about the American publics tax returns. This is about creating economic effects for small and medium-sized businesses and making sure they have the same opportunities as large corporations. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
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