Financial Archpriest Trump Shall Lead us Closer to State of Tax-Free Nirvana
Photo courtesy of Getty
New details are emerging almost every hour about the upcoming tax proposal—to be unveiled today—that most high president Donald Trump shall present to Congress when he descends from 1600 Pennsylvania Avenue. Here are some of the most fun bits:
—Treasury Secretary Steve Mnuchin says that it will be the “biggest tax cut in history.”
—It will lower business tax rates from 35 percent to 15 percent, and that’s not just for small businesses, but for the largest corporations as well. That 15 percent also applies to so-called “pass-through entities,” such as hedge funds and, um, real estate empires, that currently pay individual tax rates at 39.6 percent.