[dzlobin]

100% agreed, which is why I was pretty surprised to read that in the article but we'll see if that's actually the intended understanding of this proposal.

For reference, here is the excerpt: "Beyond cutting the tax rate to 15 percent for large corporations, which now pay a rate of 35 percent, Mr. Trump also wants that rate for a broad range of firms known as pass-through entities — including hedge funds, real estate concerns like Mr. Trump’s and large partnerships — that currently pay taxes at individual rates, which top off at 39.6 percent."

Their specific mention of pass-through entities might mean that literally but it might have just been a more succinct way to group LLCs, LPs, and PLLPs.

[joshuaheard]

I don't know where the NY Times gets that. It's not mentioned in the actual text of Trump's plan:

http://www.marketwatch.com/story/full-text-of-trump-administ...

[tptacek]

That's the précis the White House gave to journalists. The WSJ covered this in more detail. Either way: don't hold your breath for an (absurd!) 15% cap on people who make money through LLCs.