Details of the "Big Six" Tax Framework

Details of the

Politico piled on: "Trump defies GOP over tax cuts for the rich".

They have once again rolled out a tax plan that is basically the same as all their previous tax plans.

This week, headlines blared warnings such as the one published by USA Today: "Trump's tax plan could actually benefit wealthy people like him".

Wolff: There would be lower rates for incorporated businesses, for non-incorporated business and for individuals.

This is a key concern for the retail industry, which holds a unique position regarding both workers and the corporate tax rate. "The framework takes positive steps to address other business taxes in an effort to increase simplicity, efficiency, transparency, compliance and global competitiveness".

"Our tax code helps grow your paychecks and standard of living along with it", he explained. Anybody who studies taxes knows that they are not complicated because of the rates-you look those up in a table after you've done the hard part of wrestling with deductions and exclusions.

"Also, current provisions in the tax code that help livestock producers maintain economically viable businesses and support the success of future generations of farmers and ranchers must be preserved". But adding further loopholes for the rich and big corporations does exacerbate the code's complexity and unfairness. However, personal services conducted through a pass-through entity would continue to be taxed at the individual rate. The first thing to note about this is that there is no small business tax code.

While I strongly disagree with a number of the points in Wednesday's proposed tax outline, I will not miss an opportunity to be a strong voice for working families and small businesses in my district.

Brady then explained that the tax reform blueprint would collapse the current framework's seven tax brackets into three and create income tax rates of 12, 25, and 35 percent. The highest tax bracket would drop from 39.5% to 35%, with the two other brackets being 12% and 25%. But by cutting the top income tax bracket, eliminating the alternative minimum tax (AMT), and giving preferential tax rates to some pass-through businesses, the plan that Republicans offered today fails that promise. Accordingly, if budget reconciliation is used, it may be necessary (as with the tax cuts under the Bush Administration), to make the tax reform legislation temporary. In the jargon, this is change is called "territorial taxation". The industry is also one of the nation's highest tax-paying industries, with an average effective tax rate of 36.4 percent when both federal and state taxes are included. The guiding principles are that the tax code should be simpler, easier to understand for individual tax filers and it should make this country a more desirable place for corporations to do business, bringing back those companies that have fled these shores for more competitive environments. Republicans claim to have delivered relief to the middle-class by doubling the standard deduction (letting them hand-wave about "zero-tax brackets").

Not all deductions will be eliminated if the framework is adopted, however.

Like this



29 September 2017
M'sia vs N Korea football meet postponed for third time
But the Asian body gave the all-clear earlier this month after Lebanon played in Pyongyang in an incident-free Asian Cup qualifier.

29 September 2017
$1.19 EPS Expected for Anheuser Busch Inbev NV (ADR) (BUD)
Stocks of Anheuser-Busch Inbev ( BUD ) transacted up 0.33% throughout intraday market trading on Early Thur, reaching $118.89. Emerging Sovereign Group Llc holds 12.16% of its portfolio in Anheuser Busch Inbev NV (ADR) for 430,857 shares.

29 September 2017
Quanta Services, Inc. (PWR) Sees Significant Decline in Short Interest
TRADEMARK VIOLATION NOTICE: This piece of content was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. Following the sale, the director now directly owns 7,506 shares of the company's stock, valued at approximately $259,032.06.

29 September 2017
Macklemore & Wife Tricia Expecting Baby #2
The couple, who married in June 2015, previously welcomed their first child , daughter Sloane Ava Simone Haggerty, in May 2015. The video's caption confirms that, "yes, both announcements are true".

29 September 2017
TMT permit approved by land board
Controversy surrounding the telescope began several years ago. "We're waiting to see if they issue the stay", she said. Measured from its base to its summit, Mauna Kea is the tallest mountain in the world at roughly 32,000 feet.

29 September 2017
DA studying Zuma implementing state capture recommendations judgment
The DA argued Zuma is compelled to implement the remedial action even though the court still has to consider Zuma's reservations. The Nkandla judgment past year held that the public protector's remedial action is binding unless set aside by the court.

29 September 2017
Nike, Inc. (NKE) - Wells Fargo Maintains Rating And Lowers Price Target
The ex-dividend date of this dividend is Thurs, Aug 31st. this indicates a $0.72 annual dividend and a payout of 1.37%. The company was maintained on Friday, October 21 by FBR Capital. 56 funds opened positions while 130 raised stakes.

29 September 2017
Federation Internationale de Football Association 18 on Nintendo Switch Looks Great Next to Xbox One Version
The shocking part about this is that the Switch version holds up next to the Xbox One despite not running on the Frostbite engine. With the standard edition you pay the lowest price but you also get the least extra goodies.

29 September 2017
Ryan Gosling Makes His Dramatic Return to 'SNL' in First Promo
In the video above, Ryan tries to get through NBC's front desk security, and apparently they are simply not having it. File under: Ryan Gosling wore a sweater vest so now I'm wearing a sweater vest.

29 September 2017
UBS Asset Management Americas Increases Position in Concho Resources
BidaskClub lowered shares of Concho Resources from a "hold" rating to a "sell" rating in a research report on Thursday, June 22nd. Peak6 Invs LP accumulated 38,462 shares. 723.10 million shares or 5.56% more from 685.01 million shares in 2017Q1 were reported.