
Republicans Release Tax Plan, Cutting Corporate and Middle-Class Taxes - aaronbrethorst
https://www.nytimes.com/2017/11/02/us/politics/tax-plan-republicans.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=a-lede-package-region&region=top-news&WT.nav=top-news&_r=0
======
mathiasben
needs to have a fourth bracket where income over $10mil/yr is taxed at 91%
with exemptions available for investing in R&D or providing seed capital that
results in job creation. Why is this been described as the biggest overhaul in
decades when it's clearly a mild reorganization of the rates and deductions?

~~~
abhi3
This is no mild reorganization but a reorganization to the tune of trillions
of dollars. And while I am all for redistribution of wealth, taxing rich
people at 91% (or anything over the average rate in developed countries) is a
great way to get people to leave for good and lose out on even the 39.5%.

------
ameister14
The main part of this I object to is the repeal of estate taxes. I don't
understand why they're doing it.

~~~
megaman22
I don't understand why I should be taxed for dying... The state stealing any
portion of my hard-earned and already-taxed wealth from my heirs is something
I object to.

~~~
jbob2000
Estate taxes aren't really there for you and I, the common man. I think most
estate taxes are marginal anyways (you pay lower taxes on the first X thousand
dollars, etc.).

They exist to prevent the ultra rich and powerful from vacuuming up all the
wealth. Daddy makes billions, gives it all to his children who go and buy more
companies, make more billions, and after two or three generations, the entire
country is owned by like 3 families. It exists to prevent Rothschild from ever
happening again. You can't have a functional democracy when everything is run
by a handful of people.

~~~
xaqfox
Billionaires can afford estate planners and trust lawyers, so wouldn't this
disproportionately affect the poor?

~~~
jbob2000
Those guys all want a slice of the pie too, which means less gets passed down.

Hilarious that you think poor people give a flying fuck about estate taxes.
Most poor people die in debt or with nothing to their name. I'm sure you could
say the same for the middle class too.

------
poulsbohemian
Seems to me like there could be unintended consequences to the changes for
corporations and pass-through entities. Sounds like multi-nationals would be
incentivized to move elsewhere so they are no longer seen as a US company and
don't take the 10% tax hit, assuming they pay any tax at all even at present.
Likewise for pass-through entities, if they want to be taxed at the lower
rate, chances are they going to find a way to do that, regardless of the new
formula.

