Trump’s New ‘Common Sense’ Tax Plan May Just Be His Key To The White House.
Let’s say you make $30,000.00 a year. Currently, you pay 15% percent of your income to the federal government. That works out to $4,500.0. What if you only had to pay 1%? That’s right, a single digit, not a typo; 1%. That would be $300.00. Three hundred dollars!
Let’s look a little deeper. Say, you earn between $90,000.00-$190,000.00. Rounding the numbers you will pay 28%, or $25,200.00-$53,200.00 to the federal government; or the equivalent of about $25.00 an hour, at the upper end of that spectrum, which equates to about $50,000.00 a year. That is an average salary for a lot of people and frankly, that is insane. With Donald Trump’s tax plan proposal, and a proposal he introduced in 2011 (his book, “Time to Get Tough: Making America #1 Again”) you would pay 10%; $9,000.00-$19,000.00 in federal taxes.
Sounds good right? Or, at least a bit more fair and reasonable. For all of his getting knocked around about shirking tax obligations, he said he takes advantage of the tax code and tries to pay as little as required. Well, who among us doesn’t try to get maximum exemptions or deductions? Do we like the way the fed spends our money? No. Does Trump? No. Does that make him evil? No, it makes him smart.
He calls his plan the “1-5-10-15” (broken down based upon brackets of earnings), with those making over $1-Million a year, paying 15% of their income in taxes. Add to this, he said the plan is simple, and “…it can be filled out on the back of a postcard…” That sounds a helluva lot better than sitting in your tax preparer’s office, glazing over, developing a migraine, and walking out in a mental fog feeling violated.
Did that get delved into on any intellectual level during presidential debate? No. Apparently, it was more important to talk about his name calling of people. Really? Seems like it would have been smarter, and more informative, to discuss, in depth, what his financial vision is for the country, and how it has changed over the years, and why.
Is this a plan that could see him into the White House? Possibly so.