Donald Trump’s budget blueprint is so deeply flawed that it makes me hate him.
And it is, in a word, bad.
It is, to borrow a phrase from the great Ronald Reagan, “not a budget.”
And it’s not just that it would kill off all the federal spending on things like food stamps, Medicaid, the VA, the National Institutes of Health, and a host of other vital federal programs.
It’s not even that it’s so bad that, if the Trump administration had its way, it would also eliminate most of the money the president has promised to put toward rebuilding our crumbling infrastructure.
It isn’t just that the proposal would make the United States one of the least productive countries in the world by 2025, which would hurt not just the American people but also the economy as a whole.
It wouldn’t even be enough to make America competitive with other countries in manufacturing.
But I digress.
It would be a big mistake for the Trump White House to even consider the most basic of things like a tax cut.
A good idea would be to simply let the wealthy and corporations pay their fair share of taxes and invest the money back into our country.
The problem is that, to do so, the plan would leave us in a bad economic position.
It does so by creating a tax code that will make it easier for corporations to dodge paying their fair tax rate, by allowing wealthy people to write off a lot of their taxes in a system that encourages them to stash their money offshore rather than paying taxes on it, and by doing so by allowing companies to pass the money on to shareholders.
In short, it will make the American economy more like that of the Caymans and the Bahamas.
So the question now is: Why would a Republican administration choose to pursue this tax-cutting plan at all?
The Trump budget is an example of what happens when the federal government attempts to address the problems of the past.
In his budget proposal, President Trump lays out his plan to cut taxes for the wealthy by slashing the corporate tax rate from 35 percent to 15 percent, which he argues would encourage companies to repatriate their money to the United State.
But he also says that by 2020, corporations would have to pay at least 25 percent of their profits back to the U.S. Treasury.
He also proposes cutting the corporate income tax rate to 20 percent and reducing the corporate inheritance tax to 25 percent.
The Trump budget proposes to eliminate the Alternative Minimum Tax, which requires that wealthy individuals and corporations who pay taxes at a lower rate pay a lower tax rate than those who don’t pay taxes.
And he proposes to cut funding for the National Endowment for the Arts and the National Science Foundation.
In the final weeks of his campaign, Trump repeatedly promised that he would “drain the swamp” of special interests, “end special interests,” and “bring down the cost of healthcare.”
So how would he accomplish all this without making Americans worse off?
The Trump administration proposes to increase the estate tax on estates worth more than $5.45 million.
This tax is a $100 billion tax on the wealthiest Americans, who would pay a maximum of $11,000 in taxes.
That would, of course, amount to the biggest single tax cut for the middle class in U.s history.
The Tax Policy Center, a nonpartisan think tank, estimates that Trump’s proposal would raise $9.6 trillion in revenue over 10 years, though that number is based on the tax rate.
If that were to be added to Trump’s proposed $3 trillion tax cut, the total amount of tax relief that the U