Trump Proposal Would Slash Individual And Corporate Income Tax Rates NY Times: Trump’s Plan Is “A Radical Reordering Of The Tax Code That Would Significantly Benefit The Wealthy.” According to The New York Times, which outlined the cursory details provided in the Trump administration’s “skeletal” corporate and personal income tax agenda, there was “no explanation” from the White House as to how it would finance massive reductions in tax rates that could add significantly to the national debt.