Trump's plan changes the pass-through nature of an LLC?

[Chris Martin]

It just sunk in for me. Can someone with closer ties to taxes verify this? I saw this which states:

"Trump has proposed cutting the corporate tax rate from 35% to 15%. Significantly, this proposal would apply not only to large corporations. It would also apply to small pass-through entities
like limited liability companies and subchapter S corporations. These are the "mom and pop" businesses that power much of the employment in our country."

This would be huge. If the 15% rate apply to capital gains and depreciation recapture, I would bet a lot of property sellers would be rethinking doing a 1031 exchange and just paying the 15%. Is that the idea? Pay smaller amounts now vs. kicking the tax can down the road?

[Bill Gulley]

Crazy politics, don't pay any attention to the man behind the curtain! 

It's a good thing that we have 3 branches of government, "proposed" is not reality! :)