Today’s Boring Policy Number: 16%

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Remember all that stuff about how Donald Trump’s tax plan treats pass-through income? (Quick refresher here if you don’t.) Apparently the Tax Foundation gave up on getting a straight answer about how this works, so they’re now giving two estimates of the impact of Trump’s plan. If we assume he’s going to keep the low pass-through rate—the one that would benefit his own businesses—they figure his plan would create a whopping 215,000 new jobs per year over the next decade. And that’s with lots of dynamic scoring pixie dust sprinkled around.

In other words, I think we can safely say that Trump’s plan would create approximately zero jobs. However it would blow a huge hole in the deficit (about $6 trillion without pixie dust) and it would be a huge windfall for the rich, increasing their after-tax income by a whopping 16 percent. And make no mistake: unlike a lot of Donald Trump’s fanciful ideas, a Republican Congress would be delighted to pass something like this. And they’d do it in a way that couldn’t be stopped by a filibuster.

Once again, I get it. This is BORING. It’s policy stuff. Ugh. We really don’t want a bunch of dull numbers like this mucking up our beautiful front pages or our lovingly hand-crafted nightly news programs. That’s why I kept this post short.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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