Trump tax plan could save him millions under guise of helping small businesses

[Judi Lynn]

Source: Guardian News

The structure of the Trump Organization makes it a prime potential beneficiary – one estimate says the tax plan will save Donald Trump $65m a year in taxes

Tom McCarthy in New York
@TeeMcSee
email
Thursday 27 April 2017 09.33 EDT

A tax plan released by the White House on Wednesday could deliver many millions of dollars annually in tax savings to Donald Trump personally under the guise of helping small businesses, multiple tax experts have told the Guardian.

Trump would not be alone among the super-rich to benefit from the plan, analysts said, although the structure of the Trump Organization, an agglomeration of hundreds of owner-operated entities, made it a prime potential beneficiary.

The secretive nature of the Trump Organization, which the president has not divested from, and the lack of Trump’s own tax returns to work with, made it difficult to pin down how much the president and his family could stand to gain from the tax code changes proposed on Wednesday, analysts said.

Asked on Wednesday how the tax reform plan would personally affect Trump and his family, press secretary Sean Spicer said that most Americans “should be and I think frankly” are more concerned with how it would affect them.

Read more: https://www.theguardian.com/us-news/2017/apr/27/trump-tax-plan-millions-small-businesses

[tenorly]

1. No AMT equals No Tax (or very little) for the likes of King Con

Any guesses on next year's deficit if this goes forward?

[Marthe48]

2. No president was ever worried about his taxes

to the point of changing the tax code to benefit himself. He's a thug, supported by thugs. And yet, I wake every day and this massive turd is still stinking up the world. And he's getting away with it.

[Flaleftist]

3. But he's donating his salary

[IronLionZion]

4. The Trump organization is a small business right?

Most Americans don't know that there are small businesses with millions or billions in revenue, like hedge funds and law firms and investment companies.

They deliberately want us to think of the local mom and pop shops.