On Friday, Trump again tried to tout his tax law’s opportunity zone tax break as a boon to low-income and minority communities. In reality, the tax break has only amounted to another handout to wealthy investors, and the Trump administration has even directly intervened to ensure bigger tax breaks for their friends and donors.
Mnuchin personally intervened to secure an opportunity zone tax break for a wealthy investor, fraudster and longtime friend.
New York Times: “Last year, after pressure from Mr. Milken’s business partner and other landowners, the Treasury Department ignored its own guidelines on how to select opportunity zones and made the area eligible for the tax break, according to people involved in the discussions and records reviewed by The Times. The unusual decision was made at the personal instruction of Mr. Mnuchin, according to internal Treasury Department emails. It came shortly after he had spent time with Mr. Milken at an event his institute hosted.” Continue reading “Mnuchin, The White House Intervene To Secure Opportunity Zone Tax Breaks … To Benefit Wealthy Allies”