President Trump's recent plan for tax reform gives huge tax cuts to corporations and the very rich. Totally forgotten are hard-working Americans at the bottom, those who can't take a mortgage interest deduction because they don't own a home. Those not from wealthy families (like the Trump children) and won't be getting a massive, untaxed inheritance.
Taxpayers fund over $400 billion in tax incentives to help wealthier Americans build more wealth. But nothing exists to help lower-income workers save.
Trump's plan would make things worse. His tax proposal would widen the gross wealth inequality that already exists.
In 2013, the top one percent owned 40 percent of the nation's wealth and the bottom 40 percent owned almost nothing.