Here’s what he said about raising taxes… and where you can go for more in-depth answers.
Donald Trump participated in an exclusive live town hall event on the TODAY plaza Thursday morning, where he responded to a multitude of questions from voters.
He was asked, “Do you believe in raising taxes on the wealthy?”
Mr. Trump responded, “I do, I do… including myself.”
It was a simple question, and a very short, simple response. However, Trump did not announce any change to the position he has previously laid out, which is found on his website.
The Trump Tax Plan Achieves These Goals
If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax. That removes nearly 75 million households – over 50% – from the income tax rolls. They get a new one page form to send the IRS saying, “I win,” those who would otherwise owe income taxes will save an average of nearly $1,000 each.
All other Americans will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax (AMT) while providing the lowest tax rate since before World War II.
No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes. This lower rate makes corporate inversions unnecessary by making America’s tax rate one of the best in the world.
No family will have to pay the death tax. You earned and saved that money for your family, not the government. You paid taxes on it when you earned it.