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Started By
Message
re: Latest on BAT & Tax Cut (Reform)
Posted on 2/18/17 at 7:25 am to Iowa Golfer
Posted on 2/18/17 at 7:25 am to Iowa Golfer
quote:
Under a Trump tax plan middle class tax payers would likely see modest tax savings, while those in highest income ranges would actually see the most in savings given the lowering of the highest marginal tax rate, increase in standard deduction and repeal of the AMT. Under proposed Clinton plans middle income earners saw more tax savings while higher income earners were taxed more heavily.
This kinda sums it up. From your 3rd link.
4
Posted on 2/18/17 at 7:36 am to Hugo Stiglitz
It doesn't sum it up. There are a lot of details missing. That's mostly the point of my post. Hillary's plan would have saved the median income earner about $110, and shaved about 1/4 a point of off GDP. Trump's plan adds to the deficit, but it depends on whether static projections are used as to the amount. There is quite a lot more to this than the three links I posted. I posted them becuase the first article say BAT is gone, and the other two articles don't mention standard deduction or pass through, and these are significant changes if the articles are to be believed.
Posted on 2/18/17 at 8:21 am to Hugo Stiglitz
Hugo....tough times ahead? 
This post was edited on 2/18/17 at 8:21 am
Posted on 2/18/17 at 8:54 am to Hugo Stiglitz
quote:So what do you think? Fair or unfair?
This kinda sums it up. From your 3rd link.
Posted on 2/18/17 at 9:00 am to Hugo Stiglitz
quote:
while those in highest income ranges would actually see the most in savings given the lowering of the highest marginal tax rate,
Makes sense considering the tax burden of the nation is so heavily carried by higher income earners.
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