Trump tax story prompts calls to revise estate rules

[Yo_Mama_Been_Loggin]

Democrats are calling for changes to the estate tax following a bombshell news report detailing how the Trump family navigated the tax code to protect the family’s financial assets.

“The whole tax code is riddled with giveaways to folks at the top,” said Sen. Ron Wyden (Ore), the top Democrat on the Senate Finance Committee. “What I think everybody has seen, certainly, in the article, is that the president’s family was looking at using every dodge in sight, and people need to understand when the folks at the top use those dodges, that ripples all the way to the tax bills of the middle class.”

The New York Times on Tuesday published an investigative article that said President Trump and his father, Fred Trump, used questionable and potentially fraudulent methods to avoid paying high estate taxes, saving them millions of dollars.

The White House has said the story is false, though it did not dispute specific elements in the article, many of which were presented with newly uncovered documents, such as Fred Trump’s tax filings. The president’s father died in 1999.

Democrats, who are favored in November to take control of the House but have a much smaller chance of winning the Senate, say the Trump family’s story is emblematic of wider problems in the tax code.

https://thehill.com/policy/finance/domestic-taxes/410020-trump-tax-story-prompts-dem-calls-to-revise-estate-rules?userid=229233

[unitedwethrive]

1. It's a good idea that will never happen. Loopholes were purposely placed and are extremely numerous.

Every time the Dems get back power, they have to spend years cleaning up the bad economy left by the repubs. Getting to all these little details never is a high enough priority.