Potential Trump Tax Loophole for Pass-Through Businesses

By and Patrick Clark | February 6, 2018

  • February 6, 2018 at 11:29 am
    Cut the Bias says:
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    Loophole Whack-a-mole.

    Never fails. It’s why I always roll my eyes whenever a politician starts talking about closing loopholes as a means to collect a more fair tax level from all participants. They never do, and even when they manage to close one, another opens in its place.

    Part of the reason this happens is because bills such as this one are written by lobbyists, not the public servants themselves. And even if it were written by Congressman and women, the tax code is so complex and scary, that it would take them a ton of time to write it, instead of the breakneck pace at which they cobbled together napkins and loose-leaf notebook paper with handwritten notes on it to get the bill passed.

    • February 6, 2018 at 3:00 pm
      Tax Cuts 4 PolaRich Bears says:
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      Hidden due to low comment rating. Click here to see.

      • February 6, 2018 at 3:11 pm
        Confused says:
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        You’d have a better argument if you did the research on your own and posted your findings which may or may not be in opposition to Cut the Bias’s comment.

        Posting homework assignments asking people to support arguments you’re making or to prove your rebuttal of someone else’s argument is valid shows a lack of sincerity in actually debating the topic at hand.

      • February 7, 2018 at 11:18 am
        Tax Cuts 4 PolaRich Bears says:
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        I asked someone else to justify THEIR claim. I am not the person making the claim that wasn’t supported, and am under no obligation to waste my time doing as you say.

        • February 7, 2018 at 3:26 pm
          Cut the Bias says:
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          And yet, here you are, wasting everyone else’s time. :)

          • February 8, 2018 at 9:24 am
            Tax Cuts 4 PolaRich Bears says:
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            and yet, you haven’t supported your assertions.

          • February 12, 2018 at 9:57 am
            Tax Cuts 4 PolaRich Bears says:
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            I’m not wasting anyone’s time by asking for someone making a claim to support it. In fact, if I do so, and the claim is unsubstantiated, I have helped the general knowledge bank by refuting indirectly a false claim. It is a waste of time to read false claims and listen to Fake News.

          • February 12, 2018 at 3:22 pm
            Tax Cuts 4 PolaRich Bears says:
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            So far, two down voters want to remain ignorant.

  • February 6, 2018 at 1:59 pm
    Craig Cornell says:
    Hot debate. What do you think?
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    “It’s early, and the Internal Revenue Service has yet to issue guidance on how to interpret the hastily passed law.” “. . . top earners could ultimately reap the biggest gains.”

    Why is the Insurance Journal so predictably liberal?

    Those “top earners”? Making less than $157,000. or $310,000. for couples.

    These people can deduct up to 20% off their income? That would be, let’s see, a maximum deduction of $31,400. for a single person. Tax avoided: about $8,800.

    OH MY GOD!
    Trump is feeding the Millionaires and Billionaires. We have to stop people from keeping their own money, and fast!

    • February 6, 2018 at 2:50 pm
      Agent says:
      Hot debate. What do you think?
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      Correct Craig. The IJ is predictably liberal as they have been for the past 9 years. We see it every week on several articles. Hastily passed law????? I seem to remember a lot of debate and a big fight in Congress. Progressives certainly didn’t want any tax breaks for the Middle Class or Business. Of course, we are seeing the benefits already and the Middle Class is now enjoying their crumbs from bonuses and the larger take home checks. Businesses are expanding, hiring and growing just like our great President predicted.

      • February 6, 2018 at 3:50 pm
        Confused says:
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        “I seem to remember a lot of debate and a big fight in Congress.” Unless you think hours of debate counts as “a lot” of debate for a sweeping tax code overhaul, you do not remember correctly.

      • February 6, 2018 at 8:40 pm
        Tax Cuts 4 PolaRich Bears says:
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        How many hours people think is ‘a lot’ isn’t subject to refutation per YOUR OPINION.

        • February 12, 2018 at 11:33 am
          Agent says:
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          Polar, all I have to say is MAGA, MASA, MAFFPA.

  • February 15, 2018 at 5:31 pm
    TNReader says:
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    With every significant tax law there are unintended consequences. This provision was designed to help the mom and pop businesses, as well as other, larger, business with a break on profits and not salaries of the owner.

    After every significant tax law there is a “Technical Corrections Act” where changes are made to correspond with the intent of the law. However, in the current political situation, there is no hope of passing such corrections as this law would require 60 votes to break the filibuster, vs just a simple majority that was needed for the original law. So, we will get IRS regs & interpretations, then litigation for the courts to determine the alleged answer.



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