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From The Socialist newspaper, 22 November 2017

Trump's tax attacks

Hated Republican president Donald Trump, photo Gage Skidmore (Creative Commons)

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."

Too right.

Paul Gerrard, Salford Socialist Party

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In The Socialist 22 November 2017:


What we think

Budget: lying Hammond says no unemployed


Scottish Labour

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


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Usdaw general secretary coronation

Leeds college workers protest poor pay rises

Virgin train workers vote for strike action over pay

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Housing crisis

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Them & us

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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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