I don't think this counts as a conflict of interest. The Republicans are the party of tax cuts and the party that believes in trickle down economics. It's natural that a tax bill they come up with would benefit a wealthy businessman. I think it's silly at best to look at this as a conflict of interest or some scheme to personally benefit the president. Unless you can point to a specific item in the bill that seems like it's designed to benefit Trump. I know people have made a lot of the pass-through cuts that will help Trump's business but I don't think you can say with any kind of confidence that that provision was inserted because Trump is President. :idunno:
:angrymob::angrymob::angrymob::angrymob::angrymob::angrymob::angrymob::angrymob:
Trump's tax reform plan: Who are the winners and losers?
Winners
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Corporations with high tax rates:
- lowers the corporate tax rate to 20 percent from 35 percent
- lowers the tax rate for small businesses to 25 percent
Heirs to large estates:
- eliminates the so-called death tax, or estate tax, he federal estate tax which typically affects wealthier Americans
People who do their own taxes:
- Republicans hoped to simplify the tax code and the way Americans file their taxes
High-income households:
- multiple tax cuts for high-income taxpayers, including the elimination of the Alternative Minimum Tax
Low-income households:
- doubles the standard deduction, which reduces the amount of taxed income, to $12,000 for individuals and $24,000 for married couples
- also increases the child tax credit
Losers
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Taxpayers in high-tax states:
- eliminates state and local tax deductions, meaning taxpayers in states with high taxes will lose out on the write-off
- impacts those in mostly blue states, such as California and New York
Accountants:
- the plan would streamline the tax process, less people would potentially need to hire tax accountants, lawyers and firms
- Trump has said he wants to put H&R Block "out of business"
National debt:
- would result in approximately $2.2 trillion of net tax cuts - a blow to the national debt, the Committee for a Responsible Federal Budget said
State and local deductions:
- President Trump and the GOP aim to get rid of state and local tax deductions, or SALT,
- some advocates say eliminating SALT could generate at least $1.3 trillion in revenue over a decade for the federal government
- could create a red-blue state divide and a sticking point to passing tax reform
Social programs:
- greatly reduced amount of tax collections the plan calls for could result in cuts to domestic spending on programs such as welfare programs and education
http://www.foxnews.com/politics/2017/10/26/trumps-tax-reform-plan-who-are-winners-and-losers.html
:angrymob::angrymob::angrymob::angrymob::angrymob::angrymob::angrymob::angrymob:
Despite the rhetoric, the tax legislation provides only temporary cuts to the middle and low-income groups, but permanent cuts for corporations.
The bills provides for multiple benefits for "high-income households" and their heirs - for which "The Donald" and his family are members in good standing!
Trump could always make his tax returns public to make sceptics like me eat our words - the fact that he refuses speaks volumes!
Given the haste with which it was enacted, bypassing Congressional Committees and public hearings, would anybody be surprised if it contained many "sweetheart" deals that could not have withstood public scrutiny?
:angrymob::angrymob::angrymob::angrymob::angrymob::angrymob::angrymob::angrymob: