Five percent— in 1862 any American making more than 10,000 dollars a year handed only five percent of their income over to the government. Well, times have changed…a lot.
It's a 979-page plan that, among other things, lowers marginal income tax rates, lowers the corporate tax rate, increases the standard deduction for individual and married couples, phases out certain tax breaks, consolidates other tax breaks, and reforms retirement savings plans.
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