How the New GOP Tax Law Screws the Middle Class
John Avlon speaks with NYU law professor and former Obama/Biden advisor David Kamin about the dangers of Trump’s economic agenda and the newly passed Republican tax law.
John Avlon speaks with NYU law professor and former Obama/Biden advisor David Kamin about the dangers of Trump’s economic agenda and the newly passed Republican tax law. They warn that Trump’s renewed threats to fire Fed Chair Jerome Powell could undermine global trust in U.S. financial stability by politicizing the central bank, potentially worsening inflation and damaging markets.
They break down the tax law’s deep unfairness, massive cuts for the ultra-wealthy, growing income inequality, and a ballooning deficit. Kamin explains how the law rewards certain professions arbitrarily, penalizes employees, and opens new loopholes while slashing Medicaid and food assistance. They discuss alternative reforms, including closing corporate tax loopholes, enforcing a global minimum tax, and simplifying the system to support fairness, growth, and middle-class opportunity.
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