Money & The Economy

Trump reveals tax proposal

Donald Trump the Republican candidate for President made a restrained and knowledgeable interview on 60 Minutes which aired Sunday night. Trump was interviewed by Scott Pelley where Trump shared his ideas on the Presidency, what needs to be done and what as President Trump would work on. Trump dropped a bombshell when he announced his new tax plan would raise taxes on the very rich and for the very poor, there would not even be a tax. In keeping with his plan to assist the very poor in this country, health insurance would also be free and it would be done without what is called Obamacare which Trump would repeal.

The interview, showed Trump as more restrained but still animated in his responses to Pelley’s questions as to how Trump expects to get work done. For instance when questioned about Trumps tax plan, Trump said that,” If you look at actually raise, some very wealthy are going to be raised. Some people that are getting unfair deductions are going to be raised. But overall it’s going to be a tremendous incentive to grow the economy and we’re going to take in the same or more money. And I think we’re going to have something that’s going to be spectacular.” When Pelley remarked that Republicans don’t raise taxes, Trump replied that it isn’t a tax hike as much as it is a fair tax amount for those who can afford it. Continuing Trump stated, “We’re talking about people in the low-income brackets that are supposed to be paying taxes, many of them don’t anyway,” to which Pelley replied, “You’re talking about making part of the population exempt from income tax?” then Trump answered, “That is correct.”

The interview with Trump came on the heels of his fifth place straw vote at the Values Voter Summit. Republican presidential candidate Texas Sen. Ted Cruz on Saturday won the straw poll at the annual event that is held for social conservatives. Ben Carson finished in second, followed by Arkansas Gov. Mike Huckabee finished third. Florida Sen. Marco Rubio finished fourth. If Trump was all worried it didn’t show at all. Trump did make an appearance at the convention stressing that if he were made president he would stop the political correctness of using the phrase Happy Holidays instead of Merry Christmas stating that “You’re going to see it if I get elected, I can tell you right now.”

Trump’s tax plan though is what has people’s attention. According to tax plan for an overhaul of the U.S. tax code would eliminate federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000. Trumps plan would benefit wealthy earners by lowering the highest income tax rate from 39.6 percent to 25 percent. Businesses would see their rate cut from major corporations to mom-and-pop shops to no more than 15 percent. What this plan would mean for the deficit that already faces the United States has yet been calculated.

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Agnes Lawless Bedard

Agnes Lawless author and journalist , believes that one person can start the tides of change. Involved in her community, Agnes volunteers her time in her non-profit agency, Connect and Nourish, which feeds homeless men and women, (some are our own Veterans), works to ensure voting integrity at her local polling places and is an advocate for her neighborhood. Agnes is a wife, mother and grandmother who still believes that the strength of this country is its families.

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