Donald Trump wants to trump the IRS. He released a comprehensive tax plan that will cause the Left all kinds of heartache.
He wants middle class Americans to keep more of their own money!
He wants a more simplified tax code, which translates to less antacid for all of us!
He wants to grow our economy by discouraging corporate inversion, adding jobs, and making America globally competitive again, which means more business, more jobs, and therefore better income for all Americans (refer back to #1!)!
He wants to do all of the above without adding to the debt or deficit. No translation required.
Trump’s plan will reduce the number of brackets from seven to four: 0%, 10%, 20%, 25%.
He wants to reduce business taxes to 15% from their current highest-in-the-world position to stimulate business growth.
And the death tax? It’s dead.
This is a great start, I’m all for simplifying and reducing the tax code. I can’t wait until we hear about how “unfair” this is and how Trump is paying off his rich friends by lowering their taxes.
This year the 20% of earners – producers – in the US paid 84% of all income tax. You want to talk unfair, THAT is unfair.
From Steve Foley:
Radio icon Rush Limbaugh told his audience Monday that he looked at Trump’s tax plan and had flashbacks to the Reagan administration.
Limbaugh was reacting to the plan revealed Monday, which would eliminate the Alternative Minimum Tax and would not tax married couples earning under $50,000 or singles earning under $25,000. Under Trump’s plan, this would be paid for by ending loopholes for hedge fund managers and others who pay very little tax right now.
“Now, I went back, I mentioned to you that you can find, in the 1980s, you can find evidence of Ronald Reagan with similar tax proposals to what I have seen of the Trumpster’s,” Limbaugh said, using his name for the GOP front-runner.
“Now, some of this may come as a surprise to some of you because the impression of Reagan and taxes is that it was slash, slash, slash, cut, cut, cut, and of course by the time the left gets through with what Reagan did, the rich weren’t paying anything,” Limbaugh said.
” I don’t know how many of you, because that has been part of the left’s history revisionism since the 1980s, I don’t know how many of you think that Reagan got rid of taxes on the rich. But it’s just the exact opposite, folks. The rich ended up paying more after Reagan’s tax reform,” he explained.
“And the way it was made to happen was not by raising their rates, it was by lowering their rates and getting rid of all these silly brackets where income could be sheltered for crazy, wacko investments