> If you really want to go after the wealthy, you need to tax wealth, not ordinary income
Trump has promised several more yuuge tax breaks and loopholes to wealthy:
- Repeal alternative minimum tax
- Repeal estate tax
- Reduce capital gains tax
- Reduce business tax rate to 15% eliminate the corporate alternative minimum tax.
A wealthy individual could just make an LLC, and funnel all his money into it and enjoy the 15% tax rate while working folks pay regular income tax of 33%.