Monday, August 08, 2016

Trump raises top individual rate in his tax plan

The Hill reports:
Donald Trump on Monday raised the top individual tax rate in his plan from 25 percent to 33 percent, putting his proposal in line with the tax-reform blueprint from House Republicans.

"My plan will reduce the current number of brackets from 7 to 3 and dramatically streamline the process," he said at a speech in Detroit. "We will work with House Republicans on this plan, using the same brackets they have proposed: 12, 25 and 33 percent. For many American workers, their tax rate will be zero."

The tax plan Trump released last September proposed individual tax rates of zero, 10, 20 and 25 percent. The current top individual tax rate is 39.6 percent.
Who'll pay for the welfare-warfare state.