Weatherman2020
Diamond Member
WASHINGTON—Owners of closely held businesses would still get a 20% tax deduction under President Biden’s tax plan, leaving high-income people who run construction companies and manufacturing firms benefiting—for now—from a provision that Republicans created in 2017 over Democratic opposition.
Although Mr. Biden campaigned on limiting the break, the deduction went untouched in the first $2.4 trillion worth of net tax increases that were detailed by the Biden administration on Friday.
SUCKAS!
Biden loves those evil tax cuts for the rich!
Although Mr. Biden campaigned on limiting the break, the deduction went untouched in the first $2.4 trillion worth of net tax increases that were detailed by the Biden administration on Friday.
SUCKAS!
Biden loves those evil tax cuts for the rich!
First Biden Budget Retains Trump-Era Business Tax Break
A 20% tax break for high-income owners of closely held businesses was on President Biden’s chopping block during the campaign, but the deduction went untouched in his budget.
www.wsj.com