The Trump administration released the outline of its tax reform plan at Wednesday’s White House press briefing.
Steve Mnuchin, Gary Cohn (Getty Images)
Gary Cohn, President Trump’s chief economic advisor, told reporters the plan will reduce the number of tax brackets to three… (RELATED: Here’s What We Know About Trump’s Plan To Cut Taxes)
The tax reform plan reduces the number of tax brackets from seven to three — 10%, 25%, and 35% — and doubles deduction standard.
— Kaitlan Collins (@kaitlancollins) April 26, 2017
Gary Cohn: “We’re going to double the standard deduction so a married couple will not pay any taxes on the first $24,000 they earn”
— Gabby Morrongiello (@gabriellahope_) April 26, 2017
… and naturally, folks had some things to say about that.
Americans should stop seeing the tax code as a method through which certain behaviors can be induced. It’d be a radical paradigm shift.
— Noah Rothman (@NoahCRothman) April 26, 2017
So the tax plan today is basically, “Really, we’re going to do something. See, here’s a page that says we’re going to do something.” ???
— Ginger Gibson (@GingerGibson) April 26, 2017
A Tax Plan Without A Plan
— Steve Kovach (@stevekovach) April 26, 2017
We know Trump will benefit greatly from this tax plan–we need to see his tax returns to know exactly how much. https://t.co/cbrbKCGABU
— Adam Smith (@asmith83) April 26, 2017
Well they really walked into the tax return questions, didn’t they?
— Lizzie O’Leary (@lizzieohreally) April 26, 2017
VERY telling that they know what the tax breaks will be for rich folks but couldn’t answer what it would mean for the middle class.
— yvette nicole brown (@YNB) April 26, 2017
man, april sure is a mixed bag of days. You’ve got garbage like april fools and tax day, but then Alien day and Rex Manning day.
— Bo Moore (@usebomswisely) April 26, 2017
Trump tax “reform” plan would hurt middle class families from New York State as it would prevent us from deducting state and local taxes.
— Joseph Amodeo (@josephamodeo) April 26, 2017
@jimtankersley Who knew reforming the tax system of an $18 trillion economy could be so hard?
— Timothy Aeppel (@TimAeppel) April 26, 2017
Reminder for all the talk about how the Trump tax plan affects families: half of Americans are single.
— Dan Bobkoff (@danbobkoff) April 26, 2017
“It’ll be a tax cut… It’ll be a tax cut.”
— Sang Lucci™ (@sanglucci) April 26, 2017
Tax cut for the richest. I don’t understand this. https://t.co/jKdtMC6f4A
— Adrija Bose (@adrijabose) April 26, 2017
I mean… even the tax plan that @realDonaldTrump released as a candidate was four pages! https://t.co/Ktlo4LKGro https://t.co/S99WChdtES
— Alex Mallin (@alex_mallin) April 26, 2017
Odds Trump actually read his own tax plan? #trump
— Mitchell Fink (@themitchellfink) April 26, 2017
What did @POTUS give @FLOTUS for her birthday? A TAX CUT! https://t.co/JUBkHqh4yA
— Mike Opelka (@stuntbrain) April 26, 2017
One thing that’s clear: Democrats will easily be able to say no to this tax plan. McConnell says they’re planning to go GOP-only route.
— Benjy Sarlin (@BenjySarlin) April 26, 2017
This is not a legitimate Tax plan. It wouldn’t even be a good Twitter thread. https://t.co/kw6AWSkgJV
— Mikel Jollett (@Mikel_Jollett) April 26, 2017
I predict the tax plan will benefit rich people.
I accept Paypal donations for my predictions.
— Alan Farley (@msttrader) April 26, 2017
We failed to repeal and replace Obamacare so we’re going to try something a bit easier: overhauling the tax system.
— Anthony De Rosa (@Anthony) April 26, 2017
To think, it was just two days ago The Daily Caller assured us that the voting public in the West didn’t care about tax code reform.
— Noah Rothman (@NoahCRothman) April 26, 2017
Trump’s had a productive 24 hours: Threatening to kill insurance subsidies for 7 million low-income people AND promising corporate tax cuts.
— Ned Resnikoff (@resnikoff) April 26, 2017
Mnuchin and Cohn, both ex Goldman Sachs bankers, are the public faces of the Trump tax cuts today. But apparently he’s a populist president. https://t.co/nw1B3VR2yh
— Mehdi Hasan (@mehdirhasan) April 26, 2017
White House one-pager doesn’t include anything on capital gains/dividends tax rate.
— Joseph Lawler (@josephlawler) April 26, 2017
getting a deduction for paying interest on my student loans is one of my only joys every tax season
— Sarah Jones (@onesarahjones) April 26, 2017
@KevinMKruse There is no tax plan.
— Binyamin Appelbaum (@BCAppelbaum) April 26, 2017
Relax! This tax plan was written by billionaires who got rich raping us in the housing crises so they’ve totes got our best interests at!
— Danny Zuker (@DannyZuker) April 26, 2017
Weird Ivanka’s fundraising in Middle East, while in WH, for a her foundation when her dad’s tax cut means billions in savings for her family
— Adam Blickstein (@AdamBlickstein) April 26, 2017
to state the obvious, eliminating the estate tax would be a big windfall for Ivanka, Sonny, Fredo, and Barron (maybe also Tiffany)
— Simon Maloy (@SimonMaloy) April 26, 2017
That tax plan closely resembles my plan to run a marathon someday.
— Binyamin Appelbaum (@BCAppelbaum) April 26, 2017