Donald Trump said today he believes in raising taxes on the rich, but his tax plan cuts them instead
Donald Trump is running on a plan to dramatically cut taxes for the ultra-rich while talking up his willingness to raise taxes on the same group. Sooner or later, its going to get him into trouble.
Do you believe on raising taxes on the wealthy? Trump was asked on the TODAY Show on Thursday morning.
I do, he said. I do. Including myself, I do".........
Trumps proposal would cut taxes for everyone, but especially the richest of the rich. If enacted, the top income tax rate would drop from 39.6 percent to 25 percent. It would also create an even lower 15 percent rate for pass-through income that economists predicted rich individuals would rejigger their finances to qualify for instead. The corporate tax rate would drop from 35 percent to 15 percent. And wealthy individuals like Trump would be able to leave their fortunes to their kids without paying any estate tax at all, which only affects inheritances greater than $5.45 million in 2016 and tops out at 40 percent.
http://www.msnbc.com/msnbc/donald-trumps-tax-cuts-top-1-set-general-election-fight