Trump’s Tax Proposal Would Be Ridiculously Good For Rich People
WASHINGTON ― President Donald Trump’s top economic advisers on Wednesday proposed trillions of dollars in tax cuts for millionaires under a plan billed as the biggest tax reform in over 30 years.
In a one-page statement of “principles” for tax reform provided to reporters, the administration offered few specifics. They did insist on three major perks for the wealthy, however ― reducing the tax rate on stocks, bonds and real estate investments; eliminating inheritance taxes for millionaire heirs and heiresses; and bringing down the tax rate on the largest corporations to less than half of what it is now.
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