Plan would slash taxes for small and big businesses,including Trump’s, eliminate inheritance taxes, or would be largest overhaul since Reagan era[br]The Trump administration unveiled what it called the biggest tax cuts in history” on Wednesday,in a poke that will simplify the US tax system, slash taxes for businesses large and small – including Trump’s own – eliminate inheritance taxes and set the president on a collision course with Congress over the likely $2tn-plus cost of the proposal.
Critics immediately called it “basically a enormous tax cut for the wealthy”. Related: Trump to unveil proposal for slashing corporate tax rate to 15% Related: Trump tax returns: president had to pay millions due to tax law he aims to scrap Continue reading...
Source: theguardian.com