Trumps Tax Plan Would Benefit Trump
By John Cassidy
September 28, 2017
... Sometimes he merely shades the truth outrageously. Other times he tells full-on whoppers. And that’s what he did in Indiana on Wednesday, when he said that the new Republican tax-reform plan "is not good for me."
Trump hasn’t released his tax returns, of course, so it’s difficult to estimate precisely how much money he will save if his tax plan goes through. But since last summer, when Trump’s Presidential campaign released an initial version of his vision for tax reform, tax experts and journalists have been pointing to aspects of it that could benefit him greatly ...
... Trump would benefit from the abolition of the alternative minimum tax, which the Internal Revenue Service uses to insure that high-income people who have a lot of deductions and sheltered income contribute at least a minimum amount to the federal government ...
Another element of the G.O.P.’s tax plan that would benefit Trump is the proposal to tax so-called pass-through business income at a rate of twenty-five per cent. The White House is marketing this as a way to reduce the tax burden on small-business owners, who typically report their incomes on their personal tax returns. But it would also be a big gift to the owners of large private businesses .. structured as investment partnerships, L.L.C.s, and S corporations ...
The third element of the tax plan that would benefit Trump (and his heirs) is the abolition of the estate tax ...
https://www.newyorker.com/news/john-cassidy/how-trumps-tax-plan-would-benefit-trump
