Trump's tax plan fails for a number of reasons: nonpartisan expert

Alternet - President Donald Trump’s tax policies are failing for a number of reasons, an expert argued on Sunday — and this expert, like so many others slamming Trump’s tax policies, is nonpartisan.

“President Trump has spent much of his time in office boasting about new carveouts he's enacted, like new deductions for tips, overtime, auto loans and seniors,” wrote Garrett Watson, director of Policy Analysis at the Tax Foundation, for The Hill on Sunday. Wilson conceded that these benefit some Americans, but argued those benefits are offset by how the same policies “narrow the tax base in arbitrary ways and worsen the deficit.”

Wilson added that these tax cuts cause new administration burdens, as "each new deduction comes with definitions, income limits, phaseouts and reporting rules.” Trump’s tax chaos is further compounded by his tariff policies, which Wilson characterizes as Trump thinking tariffs are “the golden ticket to our revenue problems.” In fact, Wilson pointed out that tariffs do not bring anywhere near the revenue that Trump says they will, but instead hurt ordinary families by causing "higher prices, lower wages and smaller profits" and "threaten[ing] to offset much of the growth and income gains from the 2025 tax cuts."