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Miles Archer

(18,837 posts) Thu Sep 28, 2017, 07:59 AM Sep 2017

Trump DOES NOT BENEFIT from his tax plan, other than by cutting his tax rate from 39.6% to 25%

Matthew Yglesias ?Verified account
@mattyglesias

Matthew Yglesias Retweeted NBC Politics
News orgs' social media accounts shouldn't quote lies without context.

He's cutting his tax rate from 39.6 percent to 25 percent.

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NBC Politics ?Verified account
@NBCPolitics

President Trump on tax reform: "My plan is for the working people, and my plan is for jobs. I don't benefit"

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4 replies

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Highlight:

Trump DOES NOT BENEFIT from his tax plan, other than by cutting his tax rate from 39.6% to 25% (Original Post) Miles Archer Sep 2017 OP

Elimination of alternative minimum tax saves him 80% of his tax Cicada Sep 2017 #1

looks like another 'tax break' on the backs of the middle class spanone Sep 2017 #2

He wouldn't benefit from a tax cut if he doesn't actually pay any taxes struggle4progress Sep 2017 #3

Yeah, but his brats won't have to pay estate taxes. sinkingfeeling Sep 2017 #4

Cicada

(4,533 posts)

1. Elimination of alternative minimum tax saves him 80% of his tax

Reply to Miles Archer (Original post)

Thu Sep 28, 2017, 08:27 AM

Sep 2017

In the one leaked Trump tax return five sixths of his income tax was from the alternative minimum tax, a tax primarily designed to block excessive deductions from real estate tax shelters. So eliminating this tax will save him a ton.