Trump’s tax cuts for the rich

This week the Senate finally passed the controversial Republican tax plan that could benefit the already wealthy.

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Treasury Secretary Mnuchin: piling on the debt
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This week the Senate finally passed the controversial Republican tax plan. While everyone's taxes will fall, by far the biggest beneficiaries of the tax cuts by over the next decade would be the top 1% and the top 0.1% of American households, says Ben Chu in The Independent. What's more, the way the bill is drafted implies that, by 2027, taxes would rise for the lowest income groups. At the same time, the bill also repeals the Obama administrationrequirement that all Americans obtain health insurance. As a result, 13 million fewer Americans, most of them poor, will have health coverage by 2027.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri