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Indeed, but it does not become law without a President signing it into law. And, passing constitutionality through the judicial system, if necessary. FYI.
There is no such thing as a tax loophole. Only tax law and tax law provisions. It is only a lie by liberals and progressives who insist on using misleading language. Dunderheads prefer to not use tax law and tax law provisions if applicable. A fool and her money is soon parted.
Semantics, how does preferential tax treatment for special interests, does that sound better.
If it makes anyone feel better, once the Dems have the "holy trinity", the presidency and a majority in the House and Senate, they can just pass their own bill and raise the corporate tax back to where it was or even higher and raise taxes on the rich!
Democrat supporters are so afraid that the rich might get a tax cut "even though they pay the most taxes" their willing to take a hit to get them. Yep, class warfare has always been another card the Democrats play.
It is straight out of the Marxist Communist handbook.
How? The limit on the SALT (State And Local Taxes - real estate tax, state income tax, etc.) deduction means Trump and every other wealthy and/or high income individual will pay more.
Yet, what about the 'pass through' business tax? What about raising the amount of income earned (the exemption) before the Alternative Minimum Tax kicks in?
Anyone who has any kind of retirement plan, 401K, PENSION, (public or private), self-funded will benefits. Even companies buying back some stock - which will happen - will benefit anyone in the forgoing. Unsupportable idiocy to contend otherwise. But, go ahead, step off the curb into on-coming traffic.
You are correct, but you're wasting your time. Most who would read what you've posted and object to it are financially illiterate and have a dearth of knowledge about economics.
State and local tax deduction limit is the loophole closed.
No honesty.
Exactly. And that impacts the rich the most.
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