Trump is angry over tax proposal which could harm some middle class earners

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Here's what may get cheaper from tomorrow

- zeebiz.com
14 Nov 2017
In a move seen to 'rationalise the rate structure' the government left only 50 items in the 28% tax slab. The Goods and Services Tax (GST) Council last week cut rates of 178 items from the highest tax slab of 28% to 18% under the GST regime. Changes to the tax rates of these goods will come into effect from 12 am on November 15, the government said.

New Tax Reform Plan Cuts Corporate Tax Rate, Eliminates AMT and Estate Tax, Changes Brackets

14 Nov 2017
The tax plan changes the current 7-bracket structure to only four. The first $24,000 in income for a household would have no taxation because of the increased standard deduction. The second bracket, $24,000 to $90,000 would have a tax rate of 12%. Income from $90,000 to $260,000 would have a 25% rate. Income from $260,000 to $1 million would have a 35% rate. And income ...
- cpapracticeadvisor.com

Is A Corporate Tax Cut Really What The Economy Needs

- npr.org
14 Nov 2017
U.S. corporations pay an effective tax rate of 35 percent, although most manage to lower that through various loopholes, exemptions and tax credits. The GOP plan would reduce the effective rate to 20 percent, bringing it more in line with other advanced economies.
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