Trump Says G.O.P. Tax Bill Won’t Benefit Him. That’s Not True.<br />And I have already pointed out that the modest changes proposed for the tax treatment of so-called carried interest — one of the most<br />egregious loopholes — would have little or no impact on those who benefit from it, including wealthy real estate developers.<br />Real estate developers “didn’t lose anything they care about,”<br />and they got even more breaks, like a shorter depreciation schedule in the Senate tax bill, Mr. Holtz-Eakin pointed out.<br />Even among that affluent population, the additional breaks<br />that would benefit Mr. Trump and a small cadre of real estate developers like him stand out.<br />“This is not good for me.”<br />So surely at least a few of the most egregious loopholes that benefit Mr. Trump and real estate developers like him will be closed.<br />And, in another windfall for people like Mr. Trump, both the House<br />and Senate bills exempt “any real property trade or business” from the limitation on deducting business interest.<br />“Lower pass-through rates and the repeal of the alternative minimum tax — those two alone are so hugely beneficial to Trump<br />that I have trouble imagining any way that he wouldn’t come out ahead,” said Steve Wamhoff, senior fellow for federal tax policy at the nonpartisan Institute on Taxation and Economic Policy.
