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The Hartmann Report

Another Massive Tax Giveaway to the Rich?

The Hartmann Report

Thom Hartmann

News, Debate, The Hartmann Report, Economics, Thom Hartmann, Democracy, Climate Change, Congress, America

4.51.3K Ratings

🗓️ 30 April 2026

⏱️ 59 minutes

🧾️ Download transcript

Summary

Republicans want to effectively lower what very wealthy people pay even further by tweaking the tax code- is there anything the rich want that the Republicans won't deliver for them?


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Transcript

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0:00.0

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0:04.0

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0:55.6

These statements have not been approved by the Food and Drug Administration.

0:56.8

This product is not intended to diagnose,

0:58.2

treat, cure, prevent any disease.

1:14.6

This is the Tom Hartman program.

1:21.6

Hey, our Republicans going to hand the rich another massive tax giveaway Bloomberg reports. The Ted Cruz and other Republicans are pushing a new capital gains tax cut by indexing gains to inflation. Now,

1:29.9

this sounds technical, but here's what it actually means. The Yale Budget Lab found nearly every

1:35.9

dollar of this tax break would flow to the top 20% of earners, and the top one-tenth of one percent

1:43.8

would collect the biggest savings.

1:46.5

The committee for a responsible federal budget says it would add up to $950 billion to the

1:52.4

national debt. Amazing. Almost a trillion dollars. Trump himself stands to pocket millions on

1:59.1

his properties like Mar-a-Lago. The top 1% already grabbed

2:03.0

$117 billion in tax cuts this year, while the bottom 95% saw their taxes go up, and now

2:11.4

they want war. They want more. Excuse me. This is just class warfare, you know, from the top down. There's no other way to describe this. This is just class warfare you know from the top down there's no other way to

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