Corporate Rate cut permanently to 20%. - Thumbs up

Individual rates cut to 4 but the 39.6% max rate stays. - Thumbs down

Child Tax Credit giveaway increased to $1,600/kid - More free stuff

401(k) left alone and max contribution increased to 18.5K/yr - Thumbs up

Property taxes limited to 10K per year. - Stick it to the rich

Mortgage interest deduction cut in half for new home purchases over 500K in total debt. - Stick it to the rich

Alt Min goes away completely -

Estate tax exemption gets doubled immediately. Estate tax phased out in 6 years - Believe it when I see it. Doubling the Unified Credit is good though.

Foreign earned income rate cut to 12% for cash and 5% for non cash earnings. - Decent. Should bring some money back home.

No mention of the 25% rate for pass through entities. So where's the small business break they were talking about?

Overall I rate it a B+.

Small business tax breaks ain’t going to happen. If they were lower than income rates, everyone would just become “John Smith, LLC” and pocket the lower rates.

Yes and no. Most individuals don't hire lawyers to fight their cases. Big businesses keep them on staff to fight tax issues. The creation of the LLC has been a tax administrative nightmare. They come and go with the wind.

For those arguing a flat or sales type tax is not going to be enforceable or collections would be an issue...

Y'all do realize that right now I suppose it is estimated that 1/2 of Americans don't pay any Federal Tax. That's at least what is freely thrown around. People all over the country don't file a return. Illegals don't file a return. People cheat on their returns all day long when they do file and MOST of the wealthy have a good CPA and Lawyer that are smart enough to get them out of paying a lot of what they would otherwise owe. That's because the tax system is so convoluted there are loop holes everywhere.

If XYZ Company doesn't pay their federal sales tax.. that's why you have Auditors. And that's why they come in and look at your books. You can never eliminate fraud it doesn't matter what you do. These State and Local governments don't typically have the manpower in the form of Auditors to be able to police their jurisdictions. Why that is the case is a separate issue. But most do a poor job of this. Some do a great job.

In my opinion the Federal Government can police a tax collected at the point of sale a LOT easier than our current system. How could you say it is easier to police 100 million individuals filing returns? There is no way. That's my opinion.

Comsumption tax is the only way to go. Just think about all the money collected b back from Illegals at just a single Wal-Mart. They don't pay federal tax under the current system, but I bet some possibly file returns to get some back...

So, again...even if businesses do nothing different, but there would be ZERO tax evasion by individuals.

Sounds better to me.

its a steaming pile just as it was meant to be and here is how I can prove it... until they take care of the idiotic spending problem and at least operate on a balanced budget we are deficit spending and everyone's tax bill cant do anything but go up. you dont argue who owes what on the check until you get the bill and make sure its right. why do we continue to pay a bill for stuff we dont owe? these crooks arent going to stop robbing us blind until we make them. all the "youre a liberal" bickering damn sure aint gonna change that fact. I propose a tax strike. If the church can operate on 10% then the government better figure out a way too.

Let’s do a tax strike. You first