Trump: ‘Large segment’ of US will have zero tax rate if elected

azmastablasta

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Trump: ‘Large segment’ of US will have zero tax rate if elected
09/27/15 08:41 PM

Republican presidential front-runner Donald Trump said in an interview that aired on Sunday on the eve of the unveiling of his tax plan that a “large segment” of U.S. taxpayers would have a zero rate if he wins the White House.

Trump’s campaign has scheduled a news conference for 11 a.m. (1500 GMT) on Monday in New York to announce a tax policy it said would offer “a major tax reduction for almost all citizens and corporations, in particular, those in the middle and lower income classes.”

Pressed about the specific numbers during an interview on CBS’ “60 Minutes” on Sunday, Trump said: “I will say this, there will be a large segment of our country that will have a zero rate, a zero rate. And that’s something I haven’t told anybody.”

Trump added he was talking about “people in the low-income brackets that are supposed to be paying taxes, many of them don’t anyway.”

Saying the middle class was “being absolutely decimated,” Trump promised middle-income earners would get a substantial tax cut under his plan. He added his corporate tax reduction would be “a great incentive” for companies.

Asked on whom he would increase taxes, Trump, a billionaire real estate mogul, said: “Some very wealthy are going to be raised. Some people that are getting unfair deductions are going to be raised.”

“I’m a pretty good Republican,” added Trump when asked about the party’s general opposition to tax increases. “But I will tell you this, I do have some differences. I don’t want to have certain people on Wall Street getting away with paying no tax.”

In an interview last month on CBS’ “Face the Nation,” Trump said that under the current tax system, many hedge fund managers were “getting away with murder” by not paying their fair share of taxes.

His overall tax plan, Trump told “60 Minutes” was “going to be a tremendous incentive to grow the economy and we’re going to take in the same or more money.”

http://www.msnbc.com/msnbc/trump-large-segment-us-will-have-zero-tax-rate-if-elected
 
haven't seen his plan, so I can't say if I think it would be better or not, but there are already a lot of people who pay zero federal income taxes.
 
No death Tax, removes marriage penalty, top corporate tax 15% what a boost for the economy,Ka-ching! I see only one down side as opposed to a federal sales tax with no income tax. With a federal sales tax we can recover all the millions?/billions? lost to illicit drugs, under the table pay, revenue lost to illegal aliens with fake SSN, etc. Everyone must spend money to live therefore no lost revenue. Of course no plan is completely foolproof depending on how it is structured, but Trumps is the best yet IMO.
 
I love it..

I would love a consumption tax more, but I will take this..

Before anyone blows this idea off, remember that he is the only one putting out this detail. Hillary is still trying to get people to stop talking about emails.

I don't have an issue with the poor not paying, as they don't do it now. They actually would loose money at this point.

Why?

The "poor" don't pay income tax already, and then get handouts as part of their tax returns.. Meaning they get money they didn't pay in.. That would save our country a fortune, just not paying half the country that didn't pay in what they are collecting.

I would prefer a 1% tax for even the poorest.. If you don't have to pay for it, you don't appreciate it..

Also the top 50 companies pay almost no tax. GE didn't pay a cent and topped the fortune 100.


This tax plan is very Regan based. Stop and think about how bad it was when Carter was president. They balked at Regan.. He took over and boom. Litterally..
The Fur prices hit records back then because, like it or not, people buying fur coats and fur products are using spending money. The more you have, the more fancy and nice things you can buy. The wealth was crazy and people had jobs and more people moved into the middle class than before and the unemployement dropped like a stone.

We have report after report that says we are as bad or worse than the 70s. That means since carter. The economy is ready, as soon as we can get the libs out of the way, and get back to GOP principles and dump the Rhino's.

I am not saying Trump is Reagan, I am just saying the economy is ready to bounce back and we need someone that can do that.
 
not too keen on people paying not tax. but, if the people paying no tax also get no big paybacks i like it. too many pay in a little and then get it all back plus a bunch more. no one should get more back than they pay in, NO ONE.
 
it's a plan. some will like it, some won't.

parts of it are exactly what the left has been demanding for years, yet they seem so far to be the ones who like it the least. Guess it really does matter which jersey is associated with the policies.

the biggest fault I find with the income tax side of it is that it doesn't fundamentally change how the tax system is designed. It changes some specifics, but it remains a graduated, multi-tiered system based on income.

We did this under reagan & it worked, but it didn't remain. After lowering marginal tax rates & considerably simplifying it, it was then altered over time back to much of what it had been. Future presidents & congresses kept messing with it. They raised the marginal rates, diddled with deductions & such & the complexity increased.

So let's stipulate trump wins & gets congress to write & pass some form of this. OK, that's great, we'll have that for a little while. And then a new congress, marginal rates get increased, maybe more added, other complexities, deductions, credits & such intended to manipulate behavior & most importantly buy votes get added in & some years down the road we get to play this all over again.

With the same system in place, it's comparatively easy to screw it up the same way we always have. We know exactly how to do ti already, we don't even have to figure it out.
 
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