Trump's Proposed Tax Overhaul Would Give Billions to Trump & Cabinet While Sparking Global "Tax War"

As the Senate narrowly passes a budget bill that clears the path for a historic tax reform, we'll look at how President Trump's proposed tax overhaul would shower billions of dollars in tax cuts upon the wealthiest Americans-including President Trump's family and members of his administration. An analysis by the Center for American Progress Action Fund shows President Trump's family and Trump's Cabinet members would, combined, reap a $3.5 billion windfall from the proposed repeal of the estate tax alone. Trump's plan would cap the tax rate on "pass-through income" at 25 percent-a move that would also shower millions in savings upon millionaires and billionaires. We speak with economist James Henry of the Tax Justice Network and Pulitzer Prize-winning journalist David Cay Johnston, whose latest piece is titled "Nine Reasons Trump's Tax Plan Will Hurt You."