Changes
Jump to navigation
Jump to search
[[Donald Trump (Tax Reform)|Trump's Tax Reform]] agenda seeks to fulfill four goals: (DTW)
#Tax relief for middle-class Americans
#Simplify the tax code
#Grow the American economy
#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) [https://www.donaldjtrump.com/positions/tax-reform]
*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)
{| class="wikitable" border=0
|+ align="center" size="14px"|'''Trump Tax Brackets and Rates (DTW-TR)'''
|-
| scope="col" align="center" style="background:#f0f0f0;"|'''Income Tax Rate'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Long Term Cap Gains/ Dividends Rate'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Single Filers'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Married Filers'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Heads of Household'''
|-
| align="center" style="background:#f9f9f9;"| 0% || align="center" style="background:#f9f9f9;"|0% || align="center" style="background:#f9f9f9;"|$0 - $25,000 || align="center" style="background:#f9f9f9;"|$0 - $50,000 || align="center" style="background:#f9f9f9;"|$0 - $37,500
|-
| align="center" style="background:#f9f9f9;"| 10% || align="center" style="background:#f9f9f9;"|0% || align="center" style="background:#f9f9f9;"|$25,001 - $50,000 || align="center" style="background:#f9f9f9;"|$50,001 - $100,000 || align="center" style="background:#f9f9f9;"|$37,501 - $75,000
|-
| align="center" style="background:#f9f9f9;"| 20% || align="center" style="background:#f9f9f9;"|15% || align="center" style="background:#f9f9f9;"|$50,001 - $150,000 || align="center" style="background:#f9f9f9;"|$100,001 - $300,000 || align="center" style="background:#f9f9f9;"|$75,001 - $225,000
|-
| align="center" style="background:#f9f9f9;"| 25% || align="center" style="background:#f9f9f9;"|20% || align="center" style="background:#f9f9f9;"|$150,001+ || align="center" style="background:#f9f9f9;"|$300,001+ || align="center" style="background:#f9f9f9;"| $225,001+
|}
===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]
*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. (DTCW-TR)[https://www.donaldjtrump.com/positions/tax-reform]
*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)[https://www.donaldjtrump.com/positions/tax-reform]
Donald Trump (Tax Reform) (view source)
Revision as of 15:58, 25 January 2016
, 15:58, 25 January 2016New page: Trump's Tax Reform agenda seeks to fulfill four goals: (DTW) #Tax relief for middle-class Americans #Simplify the tax code #Grow the American economy #Don't...
[[Donald Trump (Tax Reform)|Trump's Tax Reform]] agenda seeks to fulfill four goals: (DTW)
#Tax relief for middle-class Americans
#Simplify the tax code
#Grow the American economy
#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) [https://www.donaldjtrump.com/positions/tax-reform]
*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)
{| class="wikitable" border=0
|+ align="center" size="14px"|'''Trump Tax Brackets and Rates (DTW-TR)'''
|-
| scope="col" align="center" style="background:#f0f0f0;"|'''Income Tax Rate'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Long Term Cap Gains/ Dividends Rate'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Single Filers'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Married Filers'''
| scope="col" align="center" style="background:#f0f0f0;"|'''Heads of Household'''
|-
| align="center" style="background:#f9f9f9;"| 0% || align="center" style="background:#f9f9f9;"|0% || align="center" style="background:#f9f9f9;"|$0 - $25,000 || align="center" style="background:#f9f9f9;"|$0 - $50,000 || align="center" style="background:#f9f9f9;"|$0 - $37,500
|-
| align="center" style="background:#f9f9f9;"| 10% || align="center" style="background:#f9f9f9;"|0% || align="center" style="background:#f9f9f9;"|$25,001 - $50,000 || align="center" style="background:#f9f9f9;"|$50,001 - $100,000 || align="center" style="background:#f9f9f9;"|$37,501 - $75,000
|-
| align="center" style="background:#f9f9f9;"| 20% || align="center" style="background:#f9f9f9;"|15% || align="center" style="background:#f9f9f9;"|$50,001 - $150,000 || align="center" style="background:#f9f9f9;"|$100,001 - $300,000 || align="center" style="background:#f9f9f9;"|$75,001 - $225,000
|-
| align="center" style="background:#f9f9f9;"| 25% || align="center" style="background:#f9f9f9;"|20% || align="center" style="background:#f9f9f9;"|$150,001+ || align="center" style="background:#f9f9f9;"|$300,001+ || align="center" style="background:#f9f9f9;"| $225,001+
|}
===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]
*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. (DTCW-TR)[https://www.donaldjtrump.com/positions/tax-reform]
*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)[https://www.donaldjtrump.com/positions/tax-reform]
