REUTERS/Aaron P. Bernstein By David Morgan | WASHINGTON WASHINGTON A Republican plan to repeal taxes set under Obamacare would benefit the wealthiest U.S. households at more than five times the rate for middle-income families, according to the nonpartisan Tax Policy Center. "The effects are really very dramatic. We found that a typical middle-income family would get a tax cut averaging about $300, while people in the top 0.1 percent would get a tax cut of about $207,000," Howard Gleckman, a senior fellow at the nonprofit research group, said on Monday. ( tpc.io/2n1Mdwi ) The expected benefits equal 2.6 percent of a wealthy family's after-tax income, but only 0.5 percent of the income of a middle-class household making $51,600 to $89,400 a year, including fringe benefits like employer-provided health insurance, the center estimated. The top 0.1 percent of U.S. families have income of at least $3.9 million. The proposed changes are part of a plan backed by Republican President Donald Trump to repeal and replace the law officially known as the Affordable Care Act, former Democratic President Barack Obama's signature domestic legislation. All told, the tax portion would eliminate levies worth $600 billion in revenues over a decade.
The equestrian choice In recent seasons sensible outdoorsy outerwear has become reputable fashion fodder with cagoules no longer saved for country pursuits. Next season, thanks to luxury purveyor Tods, an upmarket outdoors look returns to its spiritual home. For your wardrobe, this means quilted jackets with butter-soft leather trims. Tally-ho, chaps. Provided by Evening Standard Limited Tod's at Milan Fashion Week (Getty Images) 4. The shaggy shearling At London Fashion Week fuzzy, strokable shearling was a hit with the style herd and Milan offered more of the same. While almost every designer on the events showcase offered some interpretation of the look, it was in the hands of Max Mara - the Rolls-Royce of winter-coat providers - that the look proved most covetable. Floor-length and as shaggy as you like, this was a high-glamour take on hygge. Provided by Evening Standard Limited Max Mara at Milan Fashion Week (Getty Images) 5. The camel coat Along with spaghetti vongole and men with questionable taste in sunglasses, Italy is home to the camel coat.
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