Reviews have begun of the Republican/Donald Trump tax proposal.
Vox: A ‘deficit-busting mess‘ that would, despite his erroneous assertions, likely be a huge benefit to Trump himself. No more expensive alternative minimum tax, for one thing.
New York Times:
Wall Street Journal: Benefit to Wall Street firms. Also, ‘risky’ on account of likely swelling of debt.
Bloomberg: Impact a short-term job growth “sugar high.”
Politifact: Provides support for Bernie Sanders’ statement that elimination of the estate tax would be a $53 BILLION tax break for the Walton family. Remember that this is NOT double taxation nor is it a tax on money the Walton heirs earned. It’s eliminating taxes otherwise due on the value of Walmart stock acquired for relative pennies.
Reminder: Almost no one pays estate taxes. In 2016, only 5,400 estates, or .2 percent of estates nationally, had any estate taxes to pay. Of those, only 30 were in Arkansas. And they were fabulously wealthy. Despite years of diligent searching the