Get ready: Donald Trump’s ‘Tax Revolution’ is here
Republican presidential nominee Donald Trump just laid out his economic plan, which he insists will solve America's economy problems.
His speech was interrupted by protestors nearly 20 times, but he still managed to get his ideas for what he calls a "Tax Revolution" out to the public.
Here are some of the ideas included in his economic plan for the US:
- Consolidate the seven tax brackets into three, reduce the top rate from 39.6% to 33%.
- End the carried-interest loophole that allows hedge fund and private equity managers to pay lower taxes.
- Eliminate the estate (“death”) tax that requires the wealthiest individuals to pay the 40% tax when they die.
- Cut the corporate tax rate by more than half, from 35% to 15%.
- Revive the Keystone pipeline and get rid of the Paris climate agreement.
- Kill TPP and renegotiate NAFTA.
- Repeal the Affordable Care Act.
Liberals, including Democratic presidential nominee Hillary Clinton and Senator Elizabeth Warren, say Trump's economic plan will benefit the mega-rich and the big banks:
Donald Trump's newest economic proposals would help big banks and the super-richhttps://t.co/IP4XUIz8qZ
— NowThis (@nowthisnews) August 9, 2016
Donald Trump's economic plan:
1. Lower wages
2. Fewer jobs
3. More debt
4. Tax breaks for the 0.1%https://t.co/OLU4htKlcV
— Hillary Clinton (@HillaryClinton) August 8, 2016
.@realDonaldTrump's econ plan was written by rich corporate insider advisors to make the economy even greater for rich corporate insiders.
— Elizabeth Warren (@elizabethforma) August 8, 2016
But what do you think of Trump's new plan?
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Christina is a freelance writer from a tiny town in Southern Maryland who just can't seem to figure out whether others are being sarcastic or not. She has a degree in business communication, with a focus in writing, from Stevenson University, and has written things for Severna Park Voice, Maryland Film Festival, The Villager, and Hello Giggles. Follow her on twitter @tinaBUFF where she constantly overthinks her tweets, or read her medley of musings at touchinfinity.wordpress.com.