September 29, 2017 8:42 AM EDT

Fresh off the heels of the latest failed Obamacare repeal effort, President Donald Trump and congressional Republicans this week unveiled their latest shot at a much-needed victory: a major tax reform plan that they say would rewrite the federal tax code for the first time in decades.

The plan has been subject to criticism from Democrats and also nonpartisan experts, who say the proposal amounts to a series of tax cuts for the wealthy — among them Trump himself, who would benefit from many of the proposal’s loopholes.

The latest skeptic: Seth Meyers, who on Late Night on Thursday took the president to task.

“On taxes, Trump is either clueless or lying or both,” Meyers said. “In fact, the political strategy for Trump’s tax plan appears to be this: pretend that it doesn’t slash taxes for the wealthy, even though it very obviously does.”

He continued: “The only way [Trump] would raise taxes on the rich is if he could pick which rich people,” then shifted into an impersonation of the president: “Rosie [O’Donnell], she’s gonna get her taxes raised, Meryl Streep’s gonna start paying her fair share, everyone in the NBA except for the tall white guys…”

Watch the full clip above.

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