Additionally, according to Fox News Insider, one economist says the stock market has gained $2 TRILLION in wealth since Trump won the election in November.
Trump's tax proposal: What it means for the rich, for the world and for you National Economic Director Gary Cohn, left, accompanied by.
News economy trump rich -- triTrump has long heralded tax cuts, particularly on corporations, as a major component of his economic plan. Hunter Blair is a budget analyst at the Economic Policy Institute. Market data provided by Interactive Data. And Trump said he would double the standard deduction, which would exclude more household income from taxation. The document does not say anything about those personal exemptions, as they are called, and how Trump intends to handle those exemptions is crucial to how his plan will affect ordinary families. Currently, households do not pay taxes on a certain minimum amount of income, depending on size and family status. With this loophole, high-income individuals could avoid paying the top tax rate by simply calling themselves independent contractors and taking the new pass-through rate. Tax reform should close loopholes, not open new ones.
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|Tendances idees originales pour creer rangements malins tres deco||Sign Up for Newsletter. But his ambitious plan is alarming lawmakers who worry it will balloon federal. The president will not be the only Trump administration official to benefit from the tax cuts. The tax, backed by House Republicans, was supposed to serve as a means to offset any loss in revenue from corporate tax cuts but ran into opposition from major corporate interests, including retailers and automobile manufacturers. In big families, this tax exemption can add up.|