candycorn
Diamond Member
From the campaign; the promise was that Individuals making $25,000 or less and couples making $50K or less will pay $0.00 in Taxes:
"
New York (CNN)Donald Trump is vowing to drastically cut income taxes for millions of Americans across the wealth spectrum while casting aside loopholes popular on Wall Street.
"It will provide major tax relief for middle income and for most other Americans. There will be a major tax reduction," Trump said Monday at a press conference at Trump Tower in New York as he unveiled his plan to revamp the tax code. "It'll simplify the tax code, it'll grow the American economy at a level that it hasn't seen for decades."
The highly anticipated tax plan comes as Trump is being pressed to provide more details about how his administration would govern.
One of the biggest beneficiaries appears to be families that draw the smallest paychecks. Individuals that make less than $25,000 (and $50,000 for married couples) would pay no income taxes under Trump's plan."
Along with $0.00 in dividend and cap gains:
"In terms of long-term capital gains and qualified dividends, Trump wants to attempt to encourage investment, which is no surprise since his fortune was made through investments in real estate. Single and married filers could earn up to $50,000 and $100,000, respectively, without paying a cent in dividend and capital gains taxes. From there, as you can see above, capital gains taxes would grow to 15% or top out at 20%, depending on which income category you and your household fall into."
Donald Trump's Income Tax Brackets: How Much Would You Owe? -- The Motley Fool
Should be interesting to see how they spin when they come up short.
"
New York (CNN)Donald Trump is vowing to drastically cut income taxes for millions of Americans across the wealth spectrum while casting aside loopholes popular on Wall Street.
"It will provide major tax relief for middle income and for most other Americans. There will be a major tax reduction," Trump said Monday at a press conference at Trump Tower in New York as he unveiled his plan to revamp the tax code. "It'll simplify the tax code, it'll grow the American economy at a level that it hasn't seen for decades."
The highly anticipated tax plan comes as Trump is being pressed to provide more details about how his administration would govern.
One of the biggest beneficiaries appears to be families that draw the smallest paychecks. Individuals that make less than $25,000 (and $50,000 for married couples) would pay no income taxes under Trump's plan."
Along with $0.00 in dividend and cap gains:
"In terms of long-term capital gains and qualified dividends, Trump wants to attempt to encourage investment, which is no surprise since his fortune was made through investments in real estate. Single and married filers could earn up to $50,000 and $100,000, respectively, without paying a cent in dividend and capital gains taxes. From there, as you can see above, capital gains taxes would grow to 15% or top out at 20%, depending on which income category you and your household fall into."
Donald Trump's Income Tax Brackets: How Much Would You Owe? -- The Motley Fool
Should be interesting to see how they spin when they come up short.