Trump will personally save up to $15m under tax bill, analysis finds

[CousinIT]

https://www.theguardian.com/us-news/2017/dec/20/trump-tax-bill-savings-analysis

Jared Kushner will save up to $12m, while five other members of Trump’s inner circle will also see benefits worth millions of dollars

Donald Trump and six members of his inner circle will be big winners of the Republicans’ vast tax overhaul, with the president personally benefiting from a tax cut of up to $15m a year, research shows.

The US president chalked up his first big legislative win on Wednesday with the $1.5tn bill, the most sweeping revamp of the tax code in three decades, slashing taxes for corporations and the wealthy and dealing the heaviest blow yet to Obamacare.

But analysis by a leading Washington thinktank, the Center for American Progress (CAP), finds that changes to business rules will save Trump roughly $11m to $15m per year, while an amendment to the estate tax – the tax on the transfer of an estate of a deceased person – would potentially save his heirs $4.5m.

Under current law, the first $11.2m of a couple’s estate’s value is excluded from taxation, and any amount above this is taxed at a 40% rate. The new bill doubles the exemption to $22.4m.

[Ilsa]

1. And that is just PER YEAR.

The rest of us can go suck eggs and beg for crumbs.

[Angry Dragon]

2. I put the number closer to $2-3 BILLION that TRUMP will save

[spanone]

3. Corker just said on morning joe that kevin brady pushed for this clause

criminals

[wishstar]

4. Hoping for financial windfalls was the only reason these grifters entered political arena

while pulling off the most successful conniving scheme ever concocted in convincing millions to vote for him thinking he was going to work on behalf of average Americans. We can expect Trump will be only sitting President in modern history to not release his tax returns while in office.

[TreasonousBastard]

5. How do they know what Trump will save? Nobody knows what he actually makes.

[chelsea0011]

6. "We're in the Money"..Gold Giggers of 1933(2017)