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These provisions include lowering individual tax rates, doubling the standard deduction and expanding the child tax credit.
These changes will be detrimental to income growth, Winegarden said.
On net, it depends on which Trump tax changes are emphasized.
There is a possibility of beneficial changes and a possibility of ill-advised changes.
Only time will tell.
Meanwhile, U.S. House Republicans have backed President Trump byreintroducing legislationthat would eliminate taxes on Social Security benefits.
My bill wouldexempt Social Security retirement benefits from taxationand boost the retirement income of millions of older Americans.
However, some experts said there could be unintended consequences.
Deregulation also helps small companies compete against established competitors who often use regulatory capture to reduce competition.
Individuals wont see the full impact immediately because insurance companies and employers will absorb some of the costs.
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