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image: KEVIN LAMARQUE / REUTERS

Trump Promises A Tax Cut For The Middle Class, Guarantees One For The Rich

September 27, 2017

WASHINGTON ― President Donald Trump plans to unveil Wednesday what the White House is calling a “middle-class” tax cut but which at this point cuts taxes only for business owners and the wealthy.

Shareholders of corporations would enjoy a rate cut from the current maximum of 35 percent down to 20 percent, according to a White House briefing Tuesday. Owners of “small businesses,” who pay taxes on their individual returns rather than with a corporate filing, would pay no more than 25 percent, instead of the current maximum of 39.6 percent. And the wealthiest Americans would see that top 39.6 percent rate fall to 35 percent.

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