Ron Wyden: “After breaking the Mnuchin rule once, the majority is now planning to fast-track a second tax break for the wealthy.…”

“After breaking the Mnuchin rule once, the majority is now planning to fast-track a second tax break for the wealthy. This one will be even larger; in fact, it could be 10 times bigger or more. My guess is that a lot of Americans are wondering what has happened to all the campaign talk about fixing the Tax Code and really going out there and standing up for the working people. As the Republican nominee, the President said he was the guy to repair the country's broken tax system. The particulars of the Trump plan were buried deep in the business pages and on his Web site, but the broad strokes of the message were pitched in rallies across the Nation: Donald Trump alone knew how to do the job because he had taken advantage of the rules himself, and he was ready to crack down on those who weren't paying their fair share. One of the few specifics Donald Trump offered on the stump was that he would close the carried interest loophole. That, of course, has been a favorite of investment fund managers. It would be great if it were actually true. In reality, the promise turned out to be pretty much just a head fake. Rather than closing the loophole and asking investment fund managers to pay their fair share, the Trump plan actually gives them a 25-percent tax cut. In fact, the Trump plan slashes tax rates for corporations and the wealthy across the board at a cost of trillions of dollars. The President and Mr.…”