GOP Tax Plan Hurts Orphans, Helps Trust-Fund Kids

“The Tax Cuts and Jobs Act doesn’t just redistribute trillions of dollars to corporate shareholders; or provide a windfall to wealthy business owners; or repeal the tax on estates worth more than $5.5 million dollars: It also allows the heirs of those estates to avoid paying any capital gains on their inherited assets — while ending a tax credit for adoption expenses which was specifically designed to encourage adoption.”  More …

Despite Trump Campaign Promise, Billionaires’ Tax Loophole Survives Again

“From early in the 2016 presidential campaign, Donald Trump swore he’d do away with the so-called carried-interest loophole, the notorious tax break that allows highly compensated private-equity managers, real estate investors (Trump!) and venture capitalists to be taxed at a much lower rate than other professionals.Yet the sweeping tax legislation released by House Republicans leaves the treatment of carried interest untouched.”  More …