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Quotes tagged ‘Trump Tax Plan’

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The proposal would reduce taxes throughout the income distribution. It would cut taxes by an average of about $5,100, or about 7 percent of after-tax income. On average, households at all income levels would receive tax cuts, but the highest-income households would receive the largest cuts, both in…

— Jim Nunns, Len Burman, Jeff Rohaly, Joe Rosenberg, taxpolicycenter.org

Establishing a top rate on pass-through business income that is 10 percentage points below the top rate on wages would create a very strong incentive for wage earners to become independent contractors, who would be taxed at the preferential pass-through business rates.

— Jim Nunns, Len Burman, Jeff Rohaly, Joe Rosenberg, taxpolicycenter.org

With tax credits, two identifiable revenue streams for repayment are critical here: (1) the tax revenues from additional wage income, and (2) the tax revenues from additional contractor profits.

— Peter Navarro, Wilbur Ross, peternavarro.com

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