Why Most Airports in the DC Area Are Shut Down Right Now
Why Most Airports in the DC Area Are Shut Down Right Now
So, That's How the Old Dominion University Terrorist Was Able to Obtain a Firearm
So, That's How the Old Dominion University Terrorist Was Able to Obtain a...
Yes, This NYT Headline Is Real...and They Appear to Have a Muslim Terrorist Obsession
Yes, This NYT Headline Is Real...and They Appear to Have a Muslim Terrorist...
We Got Some More Manpower Heading to the Middle East
We Got Some More Manpower Heading to the Middle East
CNN's Kaitlin Collins Set Up Scott Jennings Perfectly to Torch the Biden Administration
CNN's Kaitlin Collins Set Up Scott Jennings Perfectly to Torch the Biden Administration
Did We Avoid Another Terrorist Attack This Week? This Arrest in Texas Makes Us Think We Did.
Did We Avoid Another Terrorist Attack This Week? This Arrest in Texas Makes...
VIP
Does Retaliation Against the United States Mean We Shouldn't Wage War Against Our Enemies—Absolutely Not
Does Retaliation Against the United States Mean We Shouldn't Wage War Against Our...
Guess Who Just Blocked the DOJ From Subpoenaing Jerome Powell
Guess Who Just Blocked the DOJ From Subpoenaing Jerome Powell
Tennessee Tax Prep Owner Pleads Guilty Over $80M Pandemic Fraud
Tennessee Tax Prep Owner Pleads Guilty Over $80M Pandemic Fraud
11 Indian Nationals Charged in Alleged Scheme Staging Armed Robberies to Obtain U.S. Immigration Visas
11 Indian Nationals Charged in Alleged Scheme Staging Armed Robberies to Obtain U.S....
Trump Says U.S. Has 'Obliterated' Every Military Target on Kharg Island
Trump Says U.S. Has 'Obliterated' Every Military Target on Kharg Island
VIP
Good Guy With a Gun Helped Stop Synagogue Attack in Michigan
Good Guy With a Gun Helped Stop Synagogue Attack in Michigan
VICTORY: Jury Reaches Shocking Verdict in Texas Antifa Terrorism Case
VICTORY: Jury Reaches Shocking Verdict in Texas Antifa Terrorism Case
Jury Convicts 9 Antifa Operatives in Texas Riot, Shooting at ICE Facility
Jury Convicts 9 Antifa Operatives in Texas Riot, Shooting at ICE Facility
Former Nevada County Commissioner Indicted in Alleged $500K COVID Relief Fraud
Former Nevada County Commissioner Indicted in Alleged $500K COVID Relief Fraud
Tipsheet

A Tax Plan Lawyers Will Hate

John Ransom
John Ransom | March 05, 2015 10:08 AM
A Tax Plan Lawyers Will Hate
Senators Mike Lee and Marco Rubio unveiled a comprehensive tax reform plan that would reduce the code to three tax rates: two for individuals, 15% for earnings up to 75,000, and 35% for earnings over 75,000. And a flat business tax rate of 25%. The proposal would eliminate almost all deductions, along with taxes on capital gains, dividend payments and estate taxes.
Advertisement

Lee and Rubio claim that the reform proposal would bring tax relief to most Americans while stimulating economic growth.
The only deductions to remain would be charitable deductions and deductions for mortgage interest. Long cherished deductions like contributions to qualified retirement plans would be eliminated.
I can't speak for anyone but I'm guessing that accountants and tax lawyers really won't like this plan

Catch more of the best money advice and monetary commentary by me daily 10am PT, 1pm ET at WealthEd.com

Related:

TAXES

Join the conversation as a VIP Member

Recommended

All It Took for Democrats to Cave on DHS Funding Was Four Terrorist Attacks Amy Curtis
CNN's Kaitlin Collins Set Up Scott Jennings Perfectly to Torch the Biden Administration Matt Vespa
Why Most Airports in the DC Area Are Shut Down Right Now Matt Vespa
So, That's How the Old Dominion University Terrorist Was Able to Obtain a Firearm Matt Vespa
My Word, Ms. Spanberger, What Fresh Hell Is This Tweet? Matt Vespa
Our Long Road to War With Iran Victor Davis Hanson

Trending on Townhall Videos

Advertisement

Trending on Townhall Media

Advertisement

Most Popular

All It Took for Democrats to Cave on DHS Funding Was Four Terrorist Attacks Amy Curtis
Advertisement