Reference no: EM13995090
Trump's Tax Plan Is Still Unclear on How He'd End Up Paying More
Republican Candidate Donald Trump, very certain about every approach he proposes, but not so convincing when it comes to how his proposed tax plan.
He just released a book called "Crippled America" on Tuesday November 3, which promotes a whole chapter on his strategies and how he will go forward with his suggested tax plan. Although the book may be well edited, and the plan as Donald puts it, has been simplified, questions and concerns of many individuals are not at ease.
His plans have been laid out to consider changing tax rates for high income recipients by lowering the current tax rate from 39.6 to 25 percent, the intent to dismiss tax breaks such as mortgage interest paid, and charitable donations. Not only is he planning on doing away with these two tax breaks that have proven a gain for the high income earners, he is also proposing to eliminate a variety of other tax breaks such as other credits, deductions, and exemptions but fails to specify the codes being considered.
The major problem is that the proposed tax plan Mr. Trump wants to simplify, is not just a one-dimensional approach. The tax codes cannot just be eliminated by a big eraser picking and choosing without providing the specifics of the outcome when implemented in conjunction with the proposed changes. The worst part of this plan is Mr. Trump's certainty is not assured and his proposal includes a fall back plan such as when the plan may not go as planned, his money will cover the penalties incurred and he will move on from there. Really, just that simple to fix the error Mr. Trump! That's a lot of confidence he places on his sole wealth verses his real deal for a prominent goal to actually implement a plan that will promise a better tax system.Please share your thoughts about Donald Trump's tax proposal, and what do you think is good or not so good within his proposal tax plan?
Thank you,
Patricia
References:
Collins, Margaret. "Trump's Tax Plan Is Still Unclear on How He'd End Up Paying More." Trump's Tax Plan Is Still Unclear on How He'd End Up Paying More. Bloomberg, 3 Nov. 2015. Web. 4 Nov. 2015.
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