Apr 29, 2017

How Trump could pay more taxes under his plan

A new NYT analysis of Trump's tax reform plan found the proposed changes would likely benefit high-income earners and could save him tens of millions of dollars in taxes. But, their findings also revealed one way Trump could actually pay more taxes if his reform plan is approved.

More deductibles, more problems: Based on Trump's 2005 tax returns (the only documents available to the public), he could end up paying $3 to $5 million more in taxes for his deductions. That year he claimed more than $17 million in itemized deductibles — likely from his local and state income taxes while living in NYC, per the analysis — but only charity donations, mortgage interest, and retirement contributions would be deductible under his new plan.

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Syria's darkest chapter

Family room without a family, in Idlib. Photo: Muhammed Said/Anadolu Agency via Getty Images

The worst humanitarian crisis of Syria’s brutal civil war is colliding today with what could be the war’s most dangerous geopolitical showdown, after at least 29 Turkish troops were killed in an airstrike.

The big picture: The fighting is taking place in Idlib in northwest Syria, where a ferocious Syrian and Russian offensive has displaced 1 million civilians and infuriated Turkey, which borders the region.

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Fear of coronavirus pandemic escalates

Photo: Abdulgani Basheer/AFP/Getty Images

In the blink of an eye, we've entered a new phase on the coronavirus.

The big picture: Italy, Iran and South Korea are at "decisive" points in their responses, the World Health Organization said on Thursday.

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