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.
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As soon as Trump wants to tax the rich, we welcome it.
ReplyDeleteIf Obama mentions it, we hate him.
What gives?
I DON'T agree with Trump's tax plan. Obama's current tax system is regressive and hurts families, individuals and business. Trump's will be some of the same. We NEED a FLAT TAX. period
ReplyDeleteA flat tax? More precisely, we need a "national sales tax", which would impact those who have the most disposable income, on which they would now be taxed as they spent it. A drag on the economy? Perhaps, at first. But kick starting the economy without allowing the M1 and M2 money supply to stabilize, is going to drive inflation up, as well as leave the working poor behind, as usual.
ReplyDeleteAs long as necessities, such as food (except junk food), medicine, non-luxury clothing, and similar essential items are not taxed, the working poor will pay little to no tax at all.
"Tax returns" will no longer be a nightmare, as the IRS would be abolished. There would be very little opportunity for tax evasion and tax shelters, and best of all, everyone would have to pay it, including illegal aliens who would otherwise claim "code 99" and pay nothing.
ok not the greatest plan in the world but I must ask, has any other candidate put out something this specific. this is what we asked him to do and he has done it. so bush put it out there, Hillary put it out there
ReplyDeleteNo 12:00. It's not 'taxing the rich' the GOP doesn't like, but taxing the corporations. Trump's talking about cutting the tax rate for corps and increasing the rate for hedge fund managers who now pay capital gains tax rates which are lower than income tax rates.
ReplyDelete