On Monday, the billionaire candidate will lay out his plan, which also includes cutting rates for corporations and the middle class and eliminating payments for more of the poor.
Criticized by Republican presidential rivals as having a loose grip on policy, billionaireDonald Trump laid out a tax plan on Monday that he said will increase the burden on hedge fund managers, cut rates for corporations and the middle class, and eliminate payments for more of the poor.
The plan is “going to cost me a fortune,” Trump said at a news conference at Trump Tower in New York.
It would eliminate the alternative minimum tax, the so-called marriage penalty, the estate tax, and the carried interest deduction while keeping the mortgage interest deduction, he said. Single people earning less than $25,000 per year or married people earning less than $50,000 per year would pay no income tax.