Are Republicans Reconsidering Tax Cuts for the Wealthy?
Are Republicans Reconsidering Tax Cuts for the Wealthy?
While Republicans continue to promise tax cuts for everyone, most media pundits and Democrats claim that those plans will only help the wealthy. That’s an argument that will never end, but could it be possible that Republicans are changing their tune?
There is growing speculation that Republicans might be willing to keep some of the Obamacare taxes in place that directly affect the wealthy. On the surface this looks like Republicans are actually willing to reconsider tax cuts for the wealthy. However, for some this is just a political diversion.
The reason some feel this way is because even if Republicans leave certain Obamacare taxes that take aim at the wealthy in place, they can make up those extra tax cuts when they pass their tax reform bill, which is expected to happen later this year. Republican opponents claim that this plan simply delays the inevitable because it still cuts taxes for the wealthy and reduces health care for the poor.
How will this all play out and exactly how will Republicans move forward with their desire to cut taxes? That is the golden question that the entire country waits to have answered.
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Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
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