Donald Trump Tax Ideas

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Donald Trump says a lot of things, some of which get him into trouble. Recently, however, he started to talk about some ideas he has for taxes if he became president of the United States. He actually had some good ideas and made a few good points dealing with the tax system. These may just be ideas, but if they were put into action it would definitely make a difference. In the article I read dealing with this topic, Donald Trump brought up several ideas dealing with taxes. Those ideas would include lowering the corporate tax rate and eliminating estate and gift taxes. The big shocker is that he said he would raise taxes on the wealthy. The article went on to say how this is a similar situation to when Ronald Reagan was in office. The article…show more content…
The first idea explained was the lowering of the corporate tax rate. The article said that this made sense and that most economists would support it. The next reform idea was the elimination of estate and gift taxes. The article said that these taxes don’t bring in very much revenue and they affect a very small amount of people. The last idea Trump talked about was taxing the wealthy more. The article brought the fact that hedge fund managers use a loophole to defer taxes and pay capital gains rates. This loophole isn’t available to the rest of us, so we have pay our taxes like normal. For raising taxes on the wealthy, the article talked about the progressive spending tax. This is where the more you spend the more you are taxed. It said it a person was to spend one million dollars in a year the tax rate would be 50%. The article pointed out that the progressive spending tax went along with Trump’s other ideas as…show more content…
I haven’t really had to pay taxes myself yet, but in the near future I will. I think if the ideas stated in the article are put into action the tax system will be fairer for the hard working middle class people across America. My personal favorite idea Trump talked about was the higher taxes on the wealthy. It makes no sense to tax people less when they make more money than people who pay more for taxes. That’s just common sense. I think that the progressive spending tax would be a great way to make sure everyone, including the wealthy, pay what they should be paying for taxes. So that way you would only be paying what you should be paying instead of the normal tax rate you would pay. The other thing is eliminating gift and estate taxes, also known as “death taxes”. If these taxes don’t affect many people and therefore don’t bring in a lot of revenue, then why have them. It’s just another thing you have to worry about. So the idea of getting rid of these just makes sense to me. I just don’t see the purpose for them other than to give as much money to the government as

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