Trump’s tax plan

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Speaker of the House Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R-Ky., meet with reporters to announce the Republicans' proposed rewrite of the tax code for individuals and corporations, at the Capitol in Washington, Wednesday, Sept. 27, 2017. President Donald Trump and congressional Republicans are writing a far-reaching, $5-trillion plan they say would simplify the tax system and nearly double the standard deduction used by most Americans.   (AP Photo/J. Scott Applewhite)

Speaker of the House Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R-Ky., meet with reporters to announce the Republicans' proposed rewrite of the tax code for individuals and corporations, at the Capitol in Washington, Wednesday, Sept. 27, 2017. President Donald Trump and congressional Republicans are writing a far-reaching, $5-trillion plan they say would simplify the tax system and nearly double the standard deduction used by most Americans. (AP Photo/J. Scott Applewhite)

Guests: Binyamin Appelbaum, Michael Knoll

The Trump administration announced the outline of their tax reform plan last week. While many details have not been released, their blueprint includes reducing the corporate rate from 35% to 20%, eliminating the Estate Tax and the Alternative Minimum Tax, reducing the number tax brackets, and increasing the standard deduction. Critics say the plan is a boon for wealthy Americans, but the White House says it mostly benefits the middle class. In this hour, we’ll examine Trump’s tax plan, look at who it will help and who it will hurt, and how it will affect the economy.  Marty’s guests are MICHAEL KNOLL, law professor and co-director of the Center for Tax Law and Policy at the University of Pennsylvania, and BINYAMIN APPELBAUM, Washington correspondent for The New York Times.

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