Mr. Johnson said Republican plans prioritize corporations over “pass-through” entities—sole proprietorships, partnerships, limited liability companies and S Corporations—whose owners pay taxes through individual returns and at individual income-tax rates, rather than corporate rates. The Senate plan, like the House plan, proposes to cut the corporate rate from 35% to 20%. Top rates for pass-through filers would remain over 30% in the Senate version of the bill and the House bill substantially constrains how much pass-through income could be taxed at a new 25% rate.
I hate this bill because it raises taxes on millions of middle and upper middle class families in order to "pay for" cutting corporate taxes. That isn't what President Trump ran on.
The Senate could bribe him with a bone, but that will only put pressure on them to hike taxes on individuals even more to pay for a more generous business tax cut than what was proposed.
Johnson misses the point. The “small businesses” should incorporate.
Everybody should own a corporation
It’s the American way
THE ANSWER OF COURSE IS TO GIVE US PLEBES A LITTLE BREAK ON OUR INCOME TAX RATES TO RETAIN JOHNSON’S VOTE. IF YOU MUST REPEAL THE MANDATE LATER, AT LEAST THE TAX BILL WILL GO THROUGH ON IT’S OWN AND THE ECONOMY WILL BOOM AND THE UNEMPLOYMENT RATE WILL BE LOW.
He’s right, you know. Corporate scum get more benefit than the small businesses, at least in the House bill.
Yes, they will try to raise them further elsewhere, because when you really look at it, it’s not so much a tax relief bill as it is a covert spending bill, designed to mostly cover that awful $4T budget outline that they passed in order to use reconciliation.
GOP just lost Congress. Good luck