Trump Tax Plan Courts Major Backlash

Posted by on February 15, 2019

Trump Tax Plan Courts Major Backlash

Trump Tax Plan Courts Major Backlash

Details And Analysis Of Donald Trump's Tax Plan. Republican presidential candidate Donald Trump’s tax plan would significantly reduce income taxes and corporate taxes, and eliminate the estate tax. According to the Tax Foundation’s Taxes and Growth Model, the plan would reduce federal revenue by between $4.4 trillion and $5.9 trillion on a static basis.

The "Trump Tax Plan" – Details & Analysis. The top individual tax rate of 35%. The current top rate is 39.6%. The possibility of a fourth, higher bracket. Because of Trump’s insistence that taxes for the wealthiest Americans not decrease, the plan proposes the possibility of a fourth tax bracket at a rate higher than 35% if the tax-writing committees wish.

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Trump's Tax Plan And 'the Rich'. Trump’s Tax Plan and ‘the Rich’. In July, the nonpartisan Tax Policy Center estimated the impact of a “Trump-like plan.” Howard Gleckman, a senior fellow at the tax center, wrote that middle-income households (those earning between $50,000 and $86,000) would see an average tax cut of about $1,900 or about 3 percent.

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