Whatever happened to the promise of “reducing tax rates on individuals,” Mr. President? Whatever happened to “lowering tax rates, simplifying the tax system” and overhauling the nation’s tax code? You know, to benefit ALL Americans?
President Donald Trump said Wednesday the emerging Republican tax proposal won’t cut taxes for the wealthy, and they may go up, an assurance that appeared to contradict the plan that his administration and GOP leaders are drafting.
… “The wealthy will be pretty much where they are,” Mr. Trump, a Republican, said. “If we can do that, we’d like it. If they have to go higher, they’ll go higher, frankly.”
Who are the wealthy? Two income families bringing in 100K?
Naturally, “Trump wants to lower the 35% corporate tax rate to 15%, though most analysts think that is nearly impossible.”
Gotta keep the Familia prosperous.
The document will include a specific corporate tax rate and details on the deductibility of corporate interest, Mr. Mnuchin said at a separate appearance at the same event. He said news reports suggesting the six negotiators are far apart are untrue.
Corporations above all.