Donald Trump

Trump, August 2015

Donald Trump, born June 14, 1946 in Queens, New York City, is a real estate mogul and leading Republican nominee for the 2016 Presidential election. Prior to campaigning for the presidency, Trump hosted a television show The Apprentice (later known as The Celebrity Apprentice), and owned parts or the total of several beauty pageants, including Miss Universe. He attended Fordham University for two years before transferring to the University of Pennsylvania for a bachelor's of science in economics.[1]

Although he has switched political parties several times throughout his life, even campaigning as a Reform Party candidate in 2000[2], he most recently identifies with the Republican party and has signed an agreement promising not to run as an Independent should he not be chosen as the Republican nominee.[3]

Official Website

Tax Reform

From Campaign Website:

Trump's Tax Reform agenda seeks to fulfill four goals:

1. Tax relief for middle-class Americans
2. Simplify the tax code
3. Grow the American economy
4. Don't add to Debt or Deficit

Personal

• An individual filing single that has earned less than $25,000 will not pay any income tax. [4]
• An individual filing head of household that has earned less than $37,500 will not pay any income tax.
• Couple married filing jointly that have earned less than $50,000 will not pay any income tax.
• Eliminate the marriage penalty
• Eliminate Alternative Minimum Tax (AMT)

Trump Tax Brackets and Rates

Income Tax Rate	Long Term Cap Gains/ Dividends Rate	Single Filers	Married Filers	Heads of Household
0%	0%	$0 - $25,000	$0 - $50,000	$0 - $37,500
10%	0%	$25,001 - $50,000	$50,001 - $100,000	$37,501 - $75,000
20%	15%	$50,001 - $150,000	$100,001 - $300,000	$75,001 - $225,000
25%	20%	$150,001+	$300,001+	$225,001+

Corporate

• Corporate tax rate reduced to 15%, regardless of business size. Current rate hovers ~39.1%[5]
• Companies are required to bring their funds back from overseas accounts and pay a 10% tax on those funds. Funds used for overseas operating activities are exempt.

Funding for Tax Cuts

Trump pledges to propose alternative ways to keep revenue stable whilst reducing taxes.[6]

• Eliminate loopholes and deductions for the very rich. Steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions.
• 10% repatriation tax for corporate funds located overseas.
• End the deferral of taxes on corporate income earned abroad.
• Phase in a "reasonable cap" on the deductibility of business interest expenses.[7]

Jobs and Business Policy

• Tariffs on Mexico and China

35% tax on Ford cars made in Mexico and sold in the US[44] tax Chinese goods by 25%[45] opposes raising the minimum wage repeal Obamacare

Trade

US-China

From Campaign Website:

• Officially declare China as a currency manipulator
  • "Economists estimate the Chinese yuan is undervalued by anywhere from 15% to 40%" - Trump Campaign Website
• Force China to uphold IP laws.
  • "This theft costs the U.S. over $300 billion and millions of jobs each year. " - Trump Campaign Website
  • US companies will no longer be forced by China to share proprietory technology with Chinese firms
• End China’s illegal export subsidies and lax labor and environmental standards
• Lower corporate tax rate (to 15%, listed in Tax section)
• Bolstering U.S. military presence in East and South China Seas