Study shows Trump plan would slash taxes for richest 5%, hike them for everyone else

A detailed new analysis of the tax proposals Republican nominee Donald Trump has floated during the 2024 presidential campaign show they would result in annual tax increases for the bottom 95% of the U.S. income distribution—and a substantial giveaway to the richest 5%.

The Institute on Taxation and Economic Policy (ITEP) described its study, published Monday, as the "most comprehensive analysis that anyone has done" thus far of Trump's tax plan, which includes an extension of his deeply regressive and unpopular 2017 tax law...