It has been widely pointed out that Republican presidential nominee Donald Trump’s tax reform plans include a major incentive for higher-income U.S. taxpayers to place their earnings into pass-through businesses to obtain a lower tax rate.
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That’s the theory columnist James Stewart wrote about in the newspaper after speaking to a number of experts.
In its comments, the Center for Budget and Policy Priorities (CBPP) was concerned at the effects of Trump’s confirmation, during his speech at the Detroit Economic Club on August 8, that he would reduce the tax rate on all business profits to 15 percent.
Trump has publicly said that that he pays as little as the law allows, but has also has insisted his federal income tax payments are “substantial”. “Real estate is notorious for throwing off huge deductions”.
In May, the Washington Post reported the last time information from Donald Trump’s income-tax returns was made public – in 1981 report by New Jersey gambling regulators – he’d paid the federal government $0 in income taxes. Trump, on the other hand, has refused to release his own because he claims that he is being audited and can not release them during that process.
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Trump has claimed in the past that highly paid executives “get away with murder” on their taxes, the column said, noting that the Republican candidate hasn’t released his returns. She has proposed a $275 billion, five-year plan to rebuild infrastructure and proposed a 30 percent minimum tax on individuals with adjusted gross income of over $1 million.
