Tax bill's 'pass-through' rule will help the rich, not employees: critics

Tax bill's 'pass-through' rule will help the rich, not employees: critics

Wealthy business owners, including President Donald Trump will undoubtedly derive benefits from a provision in the Republican tax bill, which generates a valuable deduction for owners of pass-through businesses. That’s what Democrats as well as some tax experts told.

The provision actually creates a 20% business income deduction, including some restrictions for sole proprietors and also owners in partnerships in addition to non-corporate enterprises.

Initially, it was offered by Republicans as a way to help small businesses and generate jobs. However, the final formula for figuring out what types of businesses can benefit has extended to take in businesses with few, if any, employees, critics stressed.

Being a real estate developer, this week Trump is on the verge of signing the Republican tax bill into law that would give Republicans their first major legislative win this year.

Similar

Canadian CPI

Inflation data is the most important indicator that affects the central bank’s monetary policy.

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera