‘Suicide Squad’ producer dodges questions on whether tax plan will benefit Trump’s businesses

During Wednesday’s White House press briefing Treasury Secretary and “Entourage” movie producer Steve Mnuchin, alongside economic advisor Gary Cohn, unveiled the Trump administration’s proposed tax code. So far, the plan consists of a handful of bullet points on a single Microsoft Word page, but the broad strokes conclude that the wealthy will benefit from significant tax cuts while everyone else is fucked. Think of it as the President Trump friends and family tax plan.

One point of contention in the plan involves reducing the corporate tax rate from 35% to 15%, which raised the question of just how much the tax plan is intended to benefit the Trump family’s various businesses. Mnuchin was asked whether Trump’s businesses will pocket more money as a result of this plan and the treasury secretary was evasive.

“I can’t comment on the president’s tax situation since I don’t have access to that,” Mnuchin said, “but I would comment that our objective is that the reduction in taxes will be offset by significant reduction of deductions of other items. The effective tax rate it what we’re focused on.”

A second reporter pressed the scenario that the proposed scenario is essentially a gift to the family business. Mnuchin avoided confirming this.

“What this is about is creating jobs and creating economic growth,” said Mnuchin, “and that’s what massive tax cuts and massive tax reform in simplifying the system is what we’re going to do.”

Since we’re on the topic of tax returns, ABC News correspondent Jonathan Karl asked Mnuchin whether Trump was going to release his tax returns, which went about as well as expected. “The president has no intention of releasing his tax returns,” Mnuchin answered. “The president has released plenty of information and I think has given more financial disclosure than anybody else. I think the American population has plenty of information on this topic.”

Damn.

Trump’s proposed plan would eliminate the alternative minimum tax, which is the bulk of the taxes he paid in the 2005 return leaked to David Cay Johnston. Without it, he would have paid about 4% in taxes rather than 25% of his income.

It’s good to be the king.

[screen shot: MSNBC]