Re:Tax Plan Punts on a Loophole for the Wealthy
by WalterBright on Thursday September 28, 2017 @05:29PM
(#15360897)
2. Itemized deductions get phased out once income exceeds a certain threshold, plus you get subject to the Alternative Minimum Tax.
3. There are limits to how much can be put in them.
4. Sure, you get a tax deduction for donations to charity. But you NO LONGER HAVE THE MONEY. You gave it away. Giving money away is giving away the wealth.
3. There are limits to how much can be put in them.
4. Sure, you get a tax deduction for donations to charity. But you NO LONGER HAVE THE MONEY. You gave it away. Giving money away is giving away the wealth.