WASHINGTON, Dec. 31 (Xinhua) -- 2017 will be remembered as the year that U.S. President Donald Trump passed the biggest tax overhaul in three decades. And while the cuts aren't perfect, there are a number of benefits for corporations and individuals that will boost myriad sectors of the ...
Sen. Ron Wyden, the chairman of the Senate Finance Committee, said Trump was “throwing out lots of ideas as he goes,” but his record as president reflects an emphasis on tax breaks for the wealthy and corporations. “All these things he throws out every day, I’ll believe it when I...
The tax plan aims to pump $1.5 trillion worth of breaks into the nation's economy over the next 10 years. Although the bulk of the benefits go to companies and the wealthy, ordinary folks will get something, too. The average tax reduction for the middle fifth of American taxpayers by inc...
Tax policy is a good way to gauge a candidate’s populist bona fides. In 2016, Trump promised he would deliver big middle-class tax cuts and eliminate special interest provisions, including thecarried interest loopholethat grants a lower tax rate to the uber wealthy. Instead, Trump’s 2017 ...
And their tax cuts have mostly benefited large corporations and the wealthy. In fact, Reagan, W, and Trump have all broken our economy leaving their Democratic successors tasked with fixing it. It should also be no surprise that, given the Republican version of the brand, so many people of...
The second best way is to get rid of harmful tax preference such as the fringe benefits exclusion and the exemption for muni-bond interest. By contrast, resuscitating the border adjustment tax (what I sometimes call a pre-VAT) would be among the worst-possible offsets. Trump bungles an ...
Sen. Ron Wyden, the chairman of the Senate Finance Committee, said Trump was “throwing out lots of ideas as he goes,” but his record as president reflects an emphasis on tax breaks for the wealthy and corporations. “All these things h...
Trump has been far less explicit, but he clearly wants to retain his 2017 tax cut in full, and his allies in Congress are committed not just to tax cuts but to starving the IRS of resources, which would allow more wealthy Americans to evade the taxes they legally owe. ...
Sen. Ron Wyden, the chairman of the Senate Finance Committee, said Trump was “throwing out lots of ideas as he goes,” but his record as president reflects an emphasis on tax breaks for the wealthy and corporations. “All these things he throws out every day, I’ll believe it when I...
Former President Donald Trump sold his 2017 tax cut to the public by promising that — while most of the direct benefits went to corporations and the wealthy — working Americans would also benefit indirectly through higher wages. But while the Tax Cuts and Jobs...