Which number is bigger 15 or 39.6?
What is the current highest tax rate? Answer 39.6%
What is Trump’s proposed highest tax rate? Answer 15%
What has to happen to go to Trump’s lower tax rates 1% to 15%?
Answer lots of spending cuts, which means downsizing of govt!! “Your fired”!!
Noob!
“”The hedge fund people make a lot of money and they pay very little tax,” Trump said in an interview Wednesday with Bloomberg. “I want to lower taxes for the middle class.”
In short, Trump is willing to raise taxes on himself and those like him.
Many hedge fund managers and real estate investors are able to list their earnings as “carried interest” because of an IRS tax rule. They are able to cast their earnings as investment gains instead of income, which allows them to be taxed at a lower rate.
“You’ve seen my statements. I do very well. I don’t mind paying a little more in taxes. The middle class is getting clobbered in this country,” he said.”