Daniel Hemel on How the Tax Bill Might Affect Trump's Family
The new tax plan will make Trump’s family richer, experts say. Here’s how.
Daniel Hemel, a tax law professor at the University of Chicago, wants to make a deal with President Trump: If the GOP’s new tax plan indeed costs him “a fortune,” as Trump claimed, Hemel will pay Trump back the difference.
But if the president becomes richer off the plan, that money would go to Hemel. “Of course,” Hemel said, “he'd have to release his tax returns for us to judge who wins.”
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Hemel adds: “Many firms will be affected by a provision that caps the interest deduction of 30% of earnings before interest and taxes. But the GOP plan explicitly exempts real estate investors from this, so Trump doesn't have to worry.”
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