Everand Logo

Welcome to Everand!

  • The Atlantic

    A Tax Plan That Befits the 'King of Debt'

    The cuts-only plan President Trump is expected to unveil Wednesday follows a pattern: The risk associated with higher deficits takes a back seat when it comes with political pain.
    by Russell Berman Apr 26, 2017 5 minutes
    Source: Carolyn Kaster / AP

    “I am the king of debt,” Donald Trump famously boasted during last year’s campaign. On Wednesday, the president is going to set about proving it—but perhaps not in the way he originally meant.

    All indications are that the tax plan the White House is slated to unveil will include what Trump has cut in the rate that corporations and many small businesses pay to the government. But it will omit the more politically painful choices that Republicans would need to make to offset the correspondingloss of revenue, such as HouseSpeaker Paul Ryan’s proposed tax on imports or the elimination of popular deductions for charitable giving and homeowners. The result is a tax plan that, like the ones Trump offered as a candidate, could add trillions of dollars to the national debt. You can call

    You’re reading a preview, subscribe to read more.

    More from The Atlantic

    The Atlantic4 min read
    Biden’s Delegates Are Flirting With a Breakup
    Almost a week has passed since Joe Biden’s feeble debate performance. The president’s defenders are sticking with a rehearsed one-two punch: “It was a rough start,” they say, but “let’s focus on substance.” In the opposite corner, Biden’s critics are
    The Atlantic4 min read
    Hubris of Biblical Proportions
    “Kings scarcely recognize themselves as mortals, scarcely understand that which pertains to man,” John Milton wrote, “except on the day they are made king or on the day they die.” Russian President Vladimir Putin is 71; he’s been in power for 12 year
    The Atlantic4 min read
    Time To Roll The Dice
    November’s election has very high stakes: the nature and, indeed, the continued existence of the American republic, at least in the form that we’ve known it for the past century. Around the world, the United States under a second Trump presidency wou

    Related Books & Audiobooks