Republican Tax Rewrite Helps Some Millionaires but Hurts Others

The Republican tax bill picks winners and losers across the income scale, including among millionaires. It is good news for people like President Trump but bad news for professional athletes. Millionaires who earn money solely from their high-salaried employment — such as professional athletes — would see their taxes go up if the bill becomes law, because of a steep increase in their personal tax rates. The bill would raise taxes on an executive in one of Mr. Trump’s companies who is paid solely through a seven-figured salary, while reducing taxes on Mr. Trump himself. Put another way, it would likely cut the taxes paid by Robert Kraft, the owner of football’s New England Patriots, while likely raising taxes on Tom Brady, the team’s quarterback.