We’re having the same conversation but about two different things. I thought we were discussing tax rates that trusts themselves pay. Not individual tax rates.
One thing I’ll correct myself on is that I just looked up trust tax rates and they’re paying only 20% on capital gains now. Pretty sure that was higher before the Cheeto took over.
I used to do a whole lot of trust returns, but I’m admittedly rusty on them today.
Actually, they don’t. (Thats a really interesting and informative link to look at.)
They used to deal with ~70%+ tax rates. Now its at ~10%, and that’s before the shenanigans that you mentioned …
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We’re having the same conversation but about two different things. I thought we were discussing tax rates that trusts themselves pay. Not individual tax rates.
One thing I’ll correct myself on is that I just looked up trust tax rates and they’re paying only 20% on capital gains now. Pretty sure that was higher before the Cheeto took over.
I used to do a whole lot of trust returns, but I’m admittedly rusty on them today.
Yeah I was speaking about the income tax rate.
Anti Commercial-AI license (CC BY-NC-SA 4.0)