The fine print of Trump 's tax talking points
Donald J. Trump
(CNN) For the first time since he took office a little more than 11 months ago   President Trump  has signed into law sweeping new legislation -- a wide-ranging tax cut that will fundamentally remake the US tax code .
Perhaps most notably  the cuts favor corporations more than individuals and  over time  skew sharply in favor of the rich and big business.  Trump 's response has been  in many cases  to ignore those details and instead focus on the cuts  he  says will benefit lower-income taxpayers -- though  he  couldn't help but note on Friday that "corporations are literally going wild" over this.
Here are a few examples from  his  recent remarks:
 Trump : "The individual mandate is being repealed. When the individual mandate is being repealed  that means Obamacare is repealed. Because they get their money from the individual mandate. So the individual mandate is being repealed."
Reality: Expect to see and hear  Trump 's words a lot in 2018  as Democrats tie the tax bill (which is very unpopular) to GOP efforts to repeal Obamacare (also unpopular). They'll also note estimates that show Expect to see and hear  Trump 's words a lot in 2018  as Democrats tie the tax bill (which is very unpopular) to GOP efforts to repeal Obamacare (also unpopular). They'll also note estimates that show 13 million people could lose coverage as a result  with premium hikes for others.
Excited to be heading home to see the House pass a GREAT Tax Bill with the middle class getting big TAX CUTS!#MakeAmericaGreatAgain🇺🇸 —  Donald J. Trump (@realDonaldTrump) November 14   2017
While 80 percent of tax filers will see some kind of cut  they aren't the main target of the bill. As  Trump himself  conceded on Wednesday  the corporate cut -- from 35% to 21% -- is "probably the biggest factor in this plan." It's also a permanent cut  unlike everyone else's. Those expire in 2025 and could lead to higher taxes for some middle class families. Additionally  by capping state and local tax deductions at $10 000  people in higher tax states  like anti-Trump power bases New York and California  could end up owing more right away.
(CNN) For the first time since he took office a little more than 11 months ago   President Trump  has signed into law sweeping new legislation -- a wide-ranging tax cut that will fundamentally remake the US tax code .
Perhaps most notably  the cuts favor corporations more than individuals and  over time  skew sharply in favor of the rich and big business.  Trump 's response has been  in many cases  to ignore those details and instead focus on the cuts  he  says will benefit lower-income taxpayers -- though  he  couldn't help but note on Friday that "corporations are literally going wild" over this.
Here are a few examples from  his  recent remarks:
 Trump : "The individual mandate is being repealed. When the individual mandate is being repealed  that means Obamacare is repealed. Because they get their money from the individual mandate. So the individual mandate is being repealed."
Reality: Expect to see and hear  Trump 's words a lot in 2018  as Democrats tie the tax bill (which is very unpopular) to GOP efforts to repeal Obamacare (also unpopular). They'll also note estimates that show Expect to see and hear  Trump 's words a lot in 2018  as Democrats tie the tax bill (which is very unpopular) to GOP efforts to repeal Obamacare (also unpopular). They'll also note estimates that show 13 million people could lose coverage as a result  with premium hikes for others.
Excited to be heading home to see the House pass a GREAT Tax Bill with the middle class getting big TAX CUTS!#MakeAmericaGreatAgain🇺🇸 —  [TGT] (@realDonaldTrump) November 14   2017
While 80 percent of tax filers will see some kind of cut  they aren't the main target of the bill. As  Trump himself  conceded on Wednesday  the corporate cut -- from 35% to 21% -- is "probably the biggest factor in this plan." It's also a permanent cut  unlike everyone else's. Those expire in 2025 and could lead to higher taxes for some middle class families. Additionally  by capping state and local tax deductions at $10 000  people in higher tax states  like anti-Trump power bases New York and California  could end up owing more right away.