Don’t call it “tax reform.” Just call it “Ivanka’s law.”

Donald Trump’s new tax plan would slash his family’s estate-tax bill by up to $2.8 billion — yes, billion — at a time when the federal budget is in deficit and Social Security and Medicare are hurtling toward financial crisis.

If that doesn’t tell you what’s really going on here, you’re not paying attention.

Trump’s proposed reforms would eliminate the 40% estate tax on those who inherit massive estates, along with the associated gift and generation-skipping taxes.

The president has claimed that his net worth — not counting the intangible “value” of his personal brand — is about $7 billion, meaning that under current law his five kids would have to share about $2.8 billion with the rest of the country upon his death assuming they are named the inheritors in his will.

Less heroic calculations by Forbes and Bloomberg put Trump’s net worth around $2.9 billion to $3.5 billion. But that still means his kids would have to hand over between $1.5 billion to $1.4 billion.

Trump's Tax Plan: What You Need to Know

If his new tax plan goes through, they wouldn’t have to hand over a nickel. This doesn’t include any other tax savings they might get from the tax reforms, which include cuts to corporate and individual income taxes.

Trump said on Wednesday that he wouldn’t benefit personally from the reforms. It’s possible he was just being clever: It would be his kids, rather than him, who would save the estate taxes. There again, it’s possible he was just lying.

Right now the top rate of estate tax on very big estates is about the same as the 39.6% top rate on incomes. So someone who inherits $100 million gets taxed about the same as someone who earns $100 million through their own hard work and ingenuity.

But not under the new Republican tax plan. They want the schmucks who actually work for a living to pay much higher tax rates than people who inherit it. The proposals would cut the top rate of income tax from around 40% to 35%, but the top rate of inheritance tax from 40% to 0%.

As the joke goes, this will reduce poverty by... er... giving young people an incentive to have rich parents.

Two years ago I suggested Trump’s presidential campaign was an epic move of estate-tax planning by an elderly billionaire. Turns out I didn’t know the half of it.

It’s not the only way the Trumps are cashing in on their sojourn in the White House. We’ve become such a nation of suckers that they don’t even have to hide it. Earlier this year, Trump declared his Florida club Mar-a-Lago his “southern White House”... and doubled the fees to new members to $200,000 apiece.

Basically, he’s taunting us.

Yes, the Trumps are moving full steam ahead with every policy that might make them money. Meanwhile that famous “wall” remains stuck on the drawing board.

How we laughed. I am still wondering when his base will get it. Or has their hatred of “libs” blinded them completely?

What Is the Public's Opinion on Tax Cuts?

We are facing a looming crisis in America. Tens of millions are heading toward retirement, and the federal government doesn’t have anywhere near enough money to pay the Social Security they were promised, let alone their Medicare and Medicaid health-care bills. And here we are, planning to eliminate taxes, not just on billionaires, but on their kids.

Well, I guess we can all agree that Eric and Don Jr. should have hundreds of millions extra to spend, say, shooting animals in Africa. If euthanizing grandma is the price we have to pay, I guess that’s a price worth paying.