Tuesday, September 29, 2015

THE BIG QUESTION: How Many Fewer Households Would Not Have to Pay Taxes Under Trump's Tax Plan?

The Answer:

According to WSJ, today, 36% of American households today pay no income taxes, and that number would grow to 50%.

That is 31 million households that have been paying some taxes would under the Trump plan not have have any tax liability. They would merely send the IRS a note: "I win."

Also, small business income is currently subject to rates of as much as 39.6%. Under Trump's plan, businesses taxes would be capped at 15%.


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