Disparate Treatment under GOP TAXplan heavily favors Corporations

Something seems fundamentally unfair about a tax plan that requires individuals to give up deductions to get moderately lower tax rates for the next few years, but does NOT act corporations to give up their deductions for MASSIVE & PERMANENT tax rate cuts of 40% or more. This fundamental unfairness that treats corporations and the wealthy better than the rest of us, then eliminates the protections of yearly and long-term abuse by eliminating the tax safety net for such filers, the AMT, and the long-term accumulation of more than $5.5 MILLION in assets known as the Estate tax.

List of Citizen Deductions on Cutting Block while Corporate Deductions Remain

• State & Local Income tax
• Mortgage Interest
• Losses due to fire, floods, burglaries
• Education Expenses
• Student Loans
• Moving
• Eliminates extra deduction for children and gives couples & families the same deduction
• WAIVED tuition becomes taxable
• Employer provided dependent care reductions or benefits become Taxable

Expand/Protect Tax Breaks

• Creation of Pass Thrus at 20% rate is a whole new deduction vehicle
• Golf Courses
• Business Real Estate Taxes
• Private Schools
• Moving expenses even if they are moving overseas
• Highest rate threshold inreased from $500,000 to $1 Million

Scrapping taxable events for a small fraction of America

• Estate tax applying to those assets over $5.5 Million (lost $500 Billion tax dollars)
• Alternative Minimum tax that previously insured some payments (lost $440 Billion tax dollars)
• Reducing Medicare Spending by $500 Billion
• Reduce $1 TRILLION to other social safety net programs

Programs reduced so massive Corporate Tax Reduction, Estate Tax Cessation & elimination of AMT can occur

• Reducing Medicare Spending by $500 Billion
• Reduce $1 TRILLION to other social safety net programs

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