Trump Could Save More Than $1 Billion Under His New Tax Plan

[HAB911]

President Trump could cut his tax bills by more than $1.1 billion, including saving tens of millions of dollars in a single year, under his proposed tax changes, a New York Times analysis has found.

On Wednesday, the White House announced a sweeping plan to cut a variety of taxes that would overwhelmingly benefit the wealthy. The estimate of Mr. Trump’s savings is based in part on information from his 2005 federal tax return. The analysis compares what his tax burden would be under current law with what it would be under the proposal.

Mr. Trump’s 2005 return is the most recent available publicly and was released in March by David Cay Johnston, a former New York Times reporter. The Times’s figure also relies on an estimate of Mr. Trump’s net worth, calculated by the Bloomberg Billionaire’s Index to be $2.86 billion.

“I don’t benefit. I don’t benefit,” Mr. Trump said on Wednesday. “In fact, very, very strongly, as you see, I think there’s very little benefit for people of wealth.”

https://www.nytimes.com/interactive/2017/09/28/us/politics/trump-tax-benefit.html?rref=collection%2Fsectioncollection%2Fpolitics&action=click&contentCollection=politics&region=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront&_r=1

[dalton99a]

1. "I don't benefit. I don't benefit. You benefit"

[lapfog_1]

2. when he dies

his children will benefit $4B because of the elimination of the estate tax.

of course, that is contingent on the Liar-in-chief telling the truth when he says that he is worth $10B

[kentuck]

4. The estate tax is only 40% ??

It seems like it should be much higher?

What is the purpose of wealth creation in a capitalist economy? To hoard and pass down to your children?

[Achilleaze]

3. the republican casino hustler* and his russian cronies

are determined to enrich themselves by screwing over the people of America.

* republican Draft-Dodger-in-Chief

[ProfessorGAC]

5. I Don't Believe It

I don't believe he has that sort of income as i don't believe the actual NET worth is close to what he claims. That number is just more PR and just another lie.

[Gothmog]

6. Tax cuts do not grown the economy or pay for themselves