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Back in September, when Republicans introduced the first look at their plan for massive tax reform, President Donald Trump insisted that his supporting it was selfless. “It’s not good for me, believe me,” he said.
The bill as it currently exists, known as the Tax Cuts and Jobs Act, overwhelmingly helps wealthy Americans like Trump. It’s a big project: the bill drops the number of tax brackets from seven to five, reduces taxes for most Americans, slashes the corporate tax rate from 35% to 20%, and gradually repeals the estate tax.
Many of the specific elements of the original plan that would benefit Trump remain intact: the death of the estate tax, for example. Under current law, if you inherit more than $11 million from a deceased loved one, you might pay up to 40% of it in taxes. Trump’s net worth is around $3 billion, according to responsible estimates; under the estate tax repeal, his children won’t have to forfeit any of that inheritance when he dies.
Take it up with those who wrote it then, it still helps his rich friends and family.
You're the one linking us to the story citing its legit.. its stupid and inaccurate..
This is another paragraph thats questionable They have become more popular among the wealthy in recent years as a way of categorizing their income under the lower personal income tax rate rather than the corporate tax rate.
The personal income tax isnt going to be lower than the corporate tax rate..
You're the one linking us to the story citing its legit.. its stupid and inaccurate..
This is another paragraph thats questionable They have become more popular among the wealthy in recent years as a way of categorizing their income under the lower personal income tax rate rather than the corporate tax rate.
The personal income tax isnt going to be lower than the corporate tax rate..
the story is a complete failure
Point out where I said it was legit. I'll be waiting for it. Send an email to the person who wrote it.
Back in September, when Republicans introduced the first look at their plan for massive tax reform, President Donald Trump insisted that his supporting it was selfless. “It’s not good for me, believe me,” he said.
The bill as it currently exists, known as the Tax Cuts and Jobs Act, overwhelmingly helps wealthy Americans like Trump. It’s a big project: the bill drops the number of tax brackets from seven to five, reduces taxes for most Americans, slashes the corporate tax rate from 35% to 20%, and gradually repeals the estate tax.
Many of the specific elements of the original plan that would benefit Trump remain intact: the death of the estate tax, for example. Under current law, if you inherit more than $11 million from a deceased loved one, you might pay up to 40% of it in taxes. Trump’s net worth is around $3 billion, according to responsible estimates; under the estate tax repeal, his children won’t have to forfeit any of that inheritance when he dies.
No big surprise the rich help the rich, it doesn't matter which party is in office.
Oh My, now you went and done it, don't mind me while I move few steps to the side here............
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