(The Contributor) -- No longer bothering to pretend that its tax policy amounts to anything more than dumping as much money as possible into the pockets of ultra-wealthy CEOs and investors, the Trump administration is considering a plan to leapfrog Congress and unilaterally hand the richest Americans another $100 billion in tax cuts.
As the New York Times reports, Treasury Secretary and wannabe Bond villain Steve Mnuchin is studying whether his department has the authority to change "the definition of 'cost' for calculating capital gains, allowing taxpayers to adjust the initial value of an asset, such as a home or a share of stock, for inflation when it sells."
Almost two-thirds of the benefits of such a change would go to the top 0.1 percent, the Times notes.
Advertisement - story continues below
How will the White House pay for such a windfall to the wealthy? This question is always raised to squash proposals that benefit the poor and working class, but—as The Debt Collective notes on Twitter—it "never applies to billion dollar transfers to the one percent."
