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Posts Tagged ‘tax cuts’

After enduring the healthcare debacle, Charlottesville nightmare, and a seemingly endless string of natural disasters, the White House is desperate for some good PR, and revamping the nation’s tax law is where it aims to find it.

Over the past year, many promises have been made and modified, proposals floated and abandoned, and timelines established and extended. And while I’d like nothing more than to use this space to get you caught up on the details of where we stand today — projected tax rates, a review of what deductions will be eliminated or survive, etc… — the reality is, those details simply don’t exist. In fact, we know far less today about what tax reform might look like than we did seven or eight months ago.

So instead, I’d like to take a look at the big picture: what are the five biggest questions that must be answered before the GOP can fulfill one of its biggest promises to the American public: a more simple, more fair tax system that leaves additional cash in the hands of businesses and families? Let’s take a look.

Continue reading on, Forbes.com

Authored by Tony Nitti, Withum Partner and writer for Forbes.com.

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In President Trump’s recent speech to Congress, he said very little about his much-anticipated plan for tax reform. One thing he did say was this:

We will provide massive tax relief for the middle class.

This promise was surely met by cheers from coast to coast, as it should have been. But it raises an interesting question: how does a middle-class taxpayer measure whether the President delivers on his promise? Do you simply view the tax cuts for the middle class in isolation? Or must the cuts be viewed in their larger context, relative to those bestowed upon the richest Americans?

Continue reading on Forbes.com.

 

Authored by Tony Nitti, Withum Partner and writer for Forbes.com.

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