You read that right, a copy of Donald Trump ‘s anticipated tax-code reform plan has landed in our hands — and you might guess – that it benefits none other than Donald Trump. The tax reform plan expected to be unveiled today has many keypoints, but, just as many faults.
First up, Donald Trump, wants to slash if not entirely eliminate the real-estate tax entirely. This would benefit Donald Trump exponentially because of the fact even as President his corporation still pays real estate taxes on its many hotel brands around the world and based in America.
Next up, Donald Trump wants to slash the corporate tax rate from 33% to just 15% a dramatic decrease. But, uh, there’s a few problems. Several lawmakers we spoke to in Washington have already voiced their concerns in e-mails after it was learned that we had managed to get a copy of the reform code. In other news, Trump, wants to cap the individual rate at just 33% according to the documents provided by White House staffers this evening.
Paul Ryan, yeah that guy, has already come out earlier this week claiming that such a reform code would essentially raise more than a “$1trillion dollars” in money for the United States. Now, if you’re wondering how that is possible, you’re not alone. Corporate taxes are routinely an important part of the U.S economy, and, help fund several parts of the government.
“Many are already worried about how this would ultimately change or harm the deficit, if not, make it entirely worse than it already is” says one lawmaker who preferred to remain anonymous. Interestingly, Donald Trump, who presumably will attempt to pass the reform code with just 51 votes — will have to make sure his squad of politicians will be able to prove and show that over the next decade the deficit wouldn’t grow.
Unusually, Donald Trump ‘s tax reform code appears to be much more of a bunch of tax cuts rather than any meaningful changes to the already burdensome tax-code.
Perhaps the most interesting part of Trump ‘s code is the fact that he apparently wants to simplify filing tax returns in America, so much so, that simply filing your taxes on a postcard just might be a thing.
Meanwhile, Trump has set himself up for a battle on Capital Hill as many have already threatened to derail any attempt of tax reforms until Donald Trump dumps his own current tax returns into the mainstream press. His reform code is a clear benefit to Trump, as, his corporation would see an immediate decrease in taxes (and an additional slash of the real estate tax) if this code were to pass.