Los Angeles Times

Commentary: Beware the fine print in tax bills

The competing House and Senate tax bills differ in important respects, but they have this in common: a predilection to shower benefits on the very wealthy. The extraordinary reduction in the corporate tax rate to 20 percent is one obvious example. But the proposals' true perversity, and the real object of the drafters' munificence, is fully revealed only by reading the fine print. Take for instance their proposals to reward "pass-through" income with special discounted tax rates.

Certain kinds of businesses

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