More on Trump's tax proposals.........

I have a subscription with a tax guru......named Don Farmer.  I think he is in the top three of the US.  He deals in realities........how the tax laws work, their effects, the grey areas, potential problems, etc.

He just commented on Trump's tax proposals, and how similar/different such are to the Ways and Means committee's "Blueprint".

Some of the items Mr. Farmer presented:

rates........ 12% up to 75000 (MFJ).......25% (MFJ) 75000--225000..........33%  MFJ above 225000.

Repeal..........3.8% net investment income tax............09%additional medicare tax.............alternative minimum tax  (yea!)

Repeal estate tax.............and require carryover basis in estates over 10 million.  (The carryover basis could be a two-edged sword.....this will have to be watched, since it promotes retaining the land, but could also promote a lot of estates to manage their net to keep them under 10 million.)

All businesses taxed at 15%.......... C corps, S corps..........(and I would then assume that all Sch C and F)  (I foresee a dogfight over whether or not W-2 earnings would be classed as "business")  (From my perspective, this is the best yet.......even if it gets watered down.)

Raise Section 179 to 1 million limit.

One time repatriation of off-shore corporate profits taxed at 10%.  (This is one with which I totally agree-------- it should bring into the US a lot of corporate cash/profits taxed AND kept in foreign countries currently, in order to avoid the existing high corp tax rates.)

Repeal and replace Affordable Care Act (ACA).

With respect to infrastructure, put in 1 trillion.........AND provide 137 billion of tax credits to encourage private investment in infrastructure.  (I was not aware of this-------- this could be interesting--------lots of toll roads.)

If Farmer is on this.........and CCH is spouting it...........that--- for me----- puts the bulk of these items in the realm of close reality, at least in some form.

It would appear to be "progress".