The top 5% will benefit from Trump's tax plans while the rest of America pays more, a new analysis says

Contributing sentiments towards policy:

49% : Casey B. Mulligan, the former chief economist for the White House Council of Economic Advisers under Trump and a current adviser at the right-leaning America First Policy Institute, estimated to the Washington Post that a 10% tariff proposal could lead to an additional percentage point in inflation.
36% : Notably, the analysis assumes the 2017 tax cuts will be extended -- but Trump has previously claimed he would reverse the $10,000 cap on deducting state and local taxes, so ITEP's analysis included that reversal in their estimates, which further skews the benefits of the tax proposals to the top of the income ladder.
35% : Trump has still maintained that tariffs would not harm US consumers but rather raise prices for other countries.
26% : As with the top-line presidential race, the fate of both chambers of Congress is uncertain, and should Trump face a Democratic House or Senate, he may have trouble pushing an aggressive tax agenda through.

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