the 2017 tax plan will begin to affect people on january 1, 2018.
the 2017 tax plan will begin to affect people on january 1, 2018.
when will the 2017 tax plan begin to affect people?
january 1, 2018
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a "fivethirtyeight" average of november 2017 surveys showed that 32% of voters approved of the legislation while 46% opposed it. this made the 2017 tax plan less popular than any tax proposal since 1981, including the tax increases of 1990 and 1993. trump has claimed the tax cuts on the wealthy and corporations would be "paid for by growth", although 37 economists polled by the university of chicago unanimously rejected the claim. the washington post's fact-checker has found that trump's claims that his economic proposal and tax plan would not benefit wealthy persons like himself are provably false. the elimination of the estate tax (which only applies to inherited wealth greater than $11 million for a married couple) benefits only the heirs of the very rich (such as trump's children), and there is a reduced tax rate for people who report business income on their individual returns (as trump does). if trump's tax plan had been in place in 2005 (the one recent year in which his tax returns were leaked), he would have saved $31 million in taxes from the alternative minimum tax cut alone. if the most recent estimate of the value of trump's assets is correct, the repeal of the estate tax could save his family about $1.1 billion.
economic policy of donald trump