Do All of Trump’s Strategists Favor Tax Cuts for the Wealthy?

Do All of Trump’s Strategists Favor Tax Cuts for the Wealthy?

Do All of Trump’s Strategists Favor Tax Cuts for the Wealthy?

There’s no secret that Republican lawmakers want to lower tax rates for the wealthy. However, there are new reports that someone very close to President Trump is looking at raising the tax rate for the nation’s highest earners. It might come as a surprise, but according to multiple reports, White House Chief Strategist Steve Bannon reportedly favors a 40 percent tax rate for the highest bracket.

However, this report, like most others in Washington right now, is a case of “it depends on who you ask.” Two weeks ago reports surfaced, including one by Fox News, that Bannon was actually advocating a tax hike on the wealthy in order to help fund a large tax cut for lower- and middle-income taxpayers.

Reports stated that Bannon wanted to see a “4” in front of the rate for those in the highest bracket. This would affect any individual making more than $418,000 or couples earning more than $470,700. But, new reports surfaced just last week refuting that claim.

According to Treasury Secretary Steven Mnuchin, he has never heard Bannon say that. He says it’s simply the media reporting false news. Mnuchin also said that the White House does plan to release its plan to reduce deductions and lower taxes by September of this year.

 

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Alan Olsen, CPA

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.

Alan L. Olsen, CPA, Wikipedia Bio

 

 

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The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.

Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.

They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

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