Thursday, February 06, 2025

Trump's Tax To Hit Billionaires

There are probably a few more provisions not cited by National Pulse, but the President's tax plan looks like a lot of promises kept.

...these are the tax priorities of the Trump administration that the President has laid out for Members in that meeting today,” Leavitt announced before listing off a series of overhauls to the tax code. According to Leavitt, President Trump expects the plan to include no tax on tips—noting that this was “a very public campaign promise the President made”—no tax on senior citizens’ social security, no tax on overtime pay, a renewal of the tax cuts enacted by Trump during his first term, an adjustment to the SALT cap, the elimination of special tax breaks for billionaire sports team owners, closing the carried interest loophole, and new tax reductions for companies that locate their production in the United States....

You can expect a lot of Congress-types and Senatorial Slime to fight against the 'sports team', 'carried interest,' and 'SALT cap' provisions.  Naturally, they'll disguise their motives, but there is a LOT of money at stake and the people who are threatened by these provisions have a LOT of money to spend.

Your Congress-critter may need a reminder of who votes for them.

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