The inheritance tax ― disparaged by conservatives as a “death tax” ― only applies to millionaires. A full 90 percent of this tax break would accrue to households making at least $700,000 a year, which would receive an average tax cut of $25,000 a year, according to the nonpartisan Tax Policy Center. Corporate tax cuts also disproportionately favor the wealthy, because corporate profits flow to the owners of corporate stocks, who tend to be rich. Slashing the corporate tax rate from 35 percent to 15 percent would cost the federal government $2.4 trillion, according to the Tax Policy Center. The 15 percent corporate tax rate would also apply to so-called “pass-through” corporations.

Source: Huffington Post April 26, 2017 20:01 UTC