Difference between revisions of "Donald Trump (Tax Reform)"

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===Personal===
 
===Personal===
  
*An individual filing single that has earned less than $25,000 will not pay any income tax. (DTW-TR) [https://www.donaldjtrump.com/positions/tax-reform]
+
*An individual filing single that has earned less than $25,000 will not pay any income tax. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*An individual filing head of household that has earned less than $37,500 will not pay any income tax. (DTW-TR)
+
*An individual filing head of household that has earned less than $37,500 will not pay any income tax. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*Couple married filing jointly that have earned less than $50,000 will not pay any income tax. (DTW-TR)
+
*Couple married filing jointly that have earned less than $50,000 will not pay any income tax. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*Eliminate the marriage penalty (DTW-TR)
+
*Eliminate the marriage penalty [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*Eliminate Alternative Minimum Tax (DTW-TR)
+
*Eliminate Alternative Minimum Tax [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
  
  
 
{| class="wikitable" border=0
 
{| class="wikitable" border=0
|+ align="center" size="14px"|'''Trump Tax Brackets and Rates (DTW-TR)'''
+
|+ align="center" size="14px"|'''Trump Tax Brackets and Rates [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]'''
 
|-
 
|-
 
| scope="col" align="center" style="background:#f0f0f0;"|'''Income Tax Rate'''
 
| scope="col" align="center" style="background:#f0f0f0;"|'''Income Tax Rate'''
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===Corporate===
 
===Corporate===
  
*Corporate tax rate reduced to 15%, regardless of business size. (DTW-TR) Current rate hovers ~39.1%[http://www.forbes.com/sites/taxanalysts/2015/03/25/the-truth-about-corporate-tax-rates/#2715e4857a0b5c9ec04020a5]
+
*Corporate tax rate reduced to 15%, regardless of business size. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR] Current rate hovers ~39.1%[http://www.forbes.com/sites/taxanalysts/2015/03/25/the-truth-about-corporate-tax-rates/#2715e4857a0b5c9ec04020a5]
*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. (DTW-TR)
+
*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. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
  
  
 
===Funding for Tax Cuts===
 
===Funding for Tax Cuts===
  
Trump pledges to propose alternative ways to keep revenue stable whilst reducing taxes. (DTCW-TR)[https://www.donaldjtrump.com/positions/tax-reform]
+
Trump pledges to propose alternative ways to keep revenue stable whilst reducing taxes. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
  
*Eliminate loopholes and deductions for the very rich. Steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions. (DTW-TR)
+
*Eliminate loopholes and deductions for the very rich. Steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions.[https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*10% repatriation tax for corporate funds located overseas. (DTW-TR)
+
*10% repatriation tax for corporate funds located overseas. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*End the deferral of taxes on corporate income earned abroad. (DTW-TR)
+
*End the deferral of taxes on corporate income earned abroad. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]
*Phase in a "reasonable cap" on the deductibility of business interest expenses. (DTW-TR)[https://www.donaldjtrump.com/positions/tax-reform]
+
*Phase in a "reasonable cap" on the deductibility of business interest expenses. [https://www.donaldjtrump.com/positions/tax-reform DTW-TR]

Revision as of 15:42, 27 January 2016

Trump's Tax Reform (section page) agenda seeks to fulfill four goals: (DTW)

  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. DTW-TR
  • An individual filing head of household that has earned less than $37,500 will not pay any income tax. DTW-TR
  • Couple married filing jointly that have earned less than $50,000 will not pay any income tax. DTW-TR
  • Eliminate the marriage penalty DTW-TR
  • Eliminate Alternative Minimum Tax DTW-TR


Trump Tax Brackets and Rates DTW-TR
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. DTW-TR Current rate hovers ~39.1%[1]
  • 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. DTW-TR


Funding for Tax Cuts

Trump pledges to propose alternative ways to keep revenue stable whilst reducing taxes. DTW-TR

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