If the new tax code for a period of 10 years is adopted, the President , Donald trump will be able to save up to a billion dollars.
These are rough estimates, made for the New York Times Robert Willinson, expert in accounting, and Stephen Brightstone, a tax lawyer. They were based on data recently published for the public Declaration of the trump for 2005, as well as on data from Bloomberg, which assesses the assets of the President of 2.86 billion dollars.
We will remind, the new tax plan proposed by presidential administration involves lowering tax rates for the wealthiest Americans from 39.6 percent to 35 percent.
According to calculations by the New York Times, changes in Federal taxation of real estate will save Trump up to $ 10 million. To 6.2 million dollars it can save on the income from ppredprinimatelsky activities, as the new code assumes a preferential tax rate for organizations and corporations to 25%. Initially, the President wanted to go down to 15%.
Add to that the savings on income tax for individuals (instead of a seven-step scale with a top bracket of 39.6%, which is now in effect, it is proposed to establish three rates of 12%, 25% and 35%) approximately, over the lifetime of the new plan the President will be able to save more than a billion dollars.
Note, many Democrats have already criticized the tax reform, stating that it is primarily beneficial to the richest segments of the population. In addition, the administration has not provided information than will fill the budget deficit, if the new code will still be accepted.
