The magic bullet of this plan is to cut the business rate to 15% - and not just corporate (Sub C) rate, but also the Sub S, LLC, rate to 15% from 39.6%. That’s the killer rate that destroys mom and pops up to pretty good size private companies. The removal of the AMT is the next best thing, followed by the death tax removal.
Those are the 3 killers of family businesses.
The down side is growing the population on non tax payers. Really stinky incentive there.
No word if that eliminates the Earned Income Tax Credit EITC which is essentially a rebate on your SSI and you pay nothing and or get back more than you payed in. If he is keeping the EITC and a 0 rate quite frankly that would be stooopid. At some point you have to have some skin in the game, it feels so diluting to the voting process quite frankly...