Mr. Trump’s plan aims to cut corporate tax rates from 35 percent to 15 percent. This would also create a huge incentive for wealthy Americans to turn their earnings into pass-through income in order to avoid paying higher personal income tax rates. It is hard to know whether Mr. Trump’s tax plan or some version of it could pass. Still, many of these same lawmakers went along with the budget-busting tax cuts offered by President George W. Bush. Advertisement Continue reading the main storyRegardless of the plan’s fate, Mr. Trump has already sent a strong message about where his sympathies really lie.

Source: New York Times April 27, 2017 00:33 UTC