jimnyc
09-21-2016, 07:19 AM
Only one candidate has a plan for a booming economy
The choice for voters is clear: a tax cut from Donald Trump or a pay cut courtesy of Hillary Clinton.
Trump is promising to slash income taxes to zero for millions of people currently paying them, and to reduce the tax bite on everyone else except the mega-rich.
Clinton, by contrast, isn’t cutting income tax rates for anyone. Instead, she’s campaigning to raise business taxes, despite warnings it will cause wages to plummet and the economy to tank.
No wonder Trump is moving up in the polls. Most Americans are still making less than they did in 2007. The mainstream media want to double down on “birthers” and other fabricated issues. But will voters really be fooled by such nonsense? Will they be so easily distracted? Trump is betting no — they’ll vote their wallets.
Trump proposes a zero income-tax rate for singles making $25,000 and couples making twice that. Instead of paying the government money, they’ll file a one-page tax form that says, in not so many words, “I win.”
Moving up the ladder, singles earning $35,000 will save about $1,000, according to tax experts at CNN Money. And singles earning $64,000 will get a $2,700 break, on average. Anyone earning $112,000 will save over $5,300. Sweet.
And that’s before applying Trump’s proposed deductions for child care, which will average $12,000 per child regardless of whether parents actually incur child-care expenses. That’s a boon for stay-at-home parents.
Bottom line: Working couples with two kids will pay no federal income tax on their first $60,000 to $70,000 in household income.
Clinton promises tax credits, too — but only to families that actually spend over 10 percent of their income on outside child care.
Disregard Clinton’s bogus claims that Trump wants “to give trillions in tax breaks to people like himself.” Nonsense. Trump caps deductions at $100,000 for singles and double that for couples, so some high rollers will end up paying more.
As for the misery of tax preparation, Trump simplifies it: only three brackets, all with lower rates than before. He jokes about putting H&R Block out of business. Clinton’s plan adds complexity: more brackets and additional rules.
http://nypost.com/2016/09/20/only-one-candidate-has-a-plan-for-a-booming-economy/
The choice for voters is clear: a tax cut from Donald Trump or a pay cut courtesy of Hillary Clinton.
Trump is promising to slash income taxes to zero for millions of people currently paying them, and to reduce the tax bite on everyone else except the mega-rich.
Clinton, by contrast, isn’t cutting income tax rates for anyone. Instead, she’s campaigning to raise business taxes, despite warnings it will cause wages to plummet and the economy to tank.
No wonder Trump is moving up in the polls. Most Americans are still making less than they did in 2007. The mainstream media want to double down on “birthers” and other fabricated issues. But will voters really be fooled by such nonsense? Will they be so easily distracted? Trump is betting no — they’ll vote their wallets.
Trump proposes a zero income-tax rate for singles making $25,000 and couples making twice that. Instead of paying the government money, they’ll file a one-page tax form that says, in not so many words, “I win.”
Moving up the ladder, singles earning $35,000 will save about $1,000, according to tax experts at CNN Money. And singles earning $64,000 will get a $2,700 break, on average. Anyone earning $112,000 will save over $5,300. Sweet.
And that’s before applying Trump’s proposed deductions for child care, which will average $12,000 per child regardless of whether parents actually incur child-care expenses. That’s a boon for stay-at-home parents.
Bottom line: Working couples with two kids will pay no federal income tax on their first $60,000 to $70,000 in household income.
Clinton promises tax credits, too — but only to families that actually spend over 10 percent of their income on outside child care.
Disregard Clinton’s bogus claims that Trump wants “to give trillions in tax breaks to people like himself.” Nonsense. Trump caps deductions at $100,000 for singles and double that for couples, so some high rollers will end up paying more.
As for the misery of tax preparation, Trump simplifies it: only three brackets, all with lower rates than before. He jokes about putting H&R Block out of business. Clinton’s plan adds complexity: more brackets and additional rules.
http://nypost.com/2016/09/20/only-one-candidate-has-a-plan-for-a-booming-economy/