Friday, July 22, 2016
The Hill, Trump Family Would Get $7B Windfall From Estate-Tax Plan: Analyst:
Donald Trump's family would get a $7.1 billion tax cut under the Republican presidential nominee's proposal to eliminate the federal estate tax, a centrist think tank estimated.
"The staggeringly high value of the tax cut for the Trump dynasty alone carries the same price tag as multiple high-value national priorities," Third Way said in an analysis Wednesday.
Trump proposed repealing the estate tax in a tax plan he released last year. The nonpartisan Urban-Brookings Tax Policy Center has estimated that Trump's plan as a whole would cost almost $10 trillion over a decade and disproportionately benefit the wealthy. ...
The think tank came up with the $7.1 billion figure by estimating that Trump's estate would be valued at $17.7 billion in 2030, the year actuarial tables estimate that Trump's family would inherit the money.
Third Way calculated that Trump's estate, minus an exemption for $15 million of it, would be subject to a 40-percent tax if the estate tax is not repealed.