NEW YORK-Donald Trump pledged that he would “Make America Wealthy Again” by cutting taxes, reducing regulations, and bringing jobs back to America, at the Economic Club of NY on September 15.
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Trump says that his tax cut would cost $4.4 trillion over 10 years, including the childcare plan he announced this week.
The plan is based on reducing taxes, ending “destructive” regulations and negotiating better trade deals so that the United States once again becomes the world’s best country for investment, creating jobs and growth. Trump said that low-income earners would pay no income tax at all and that his plan would actually remove “millions” of workers from the income tax roll.
On Thursday, Donald Trump outlined his economic plan in an address to the Economic Club of NY.
Trump adjusted his populist message to fit the mood of the room while addressing the Economic Club of NY at a luncheon at the Waldorf Astoria in Midtown Manhattan Thursday.
The Republican nominee gave the economic speech just minutes before the “Dr. Oz Show” aired its episode featuring Trump to discuss his health. He is expected to deliver another speech on the economy later Thursday, which will further detail changes to his existing economic agenda.
All presidential candidates since 1976 have made their tax returns public, and Democratic nominee Hillary Clinton has released nearly four decades of her own returns. “Because I’m doing this, I can’t take advantage of it”, he said.
In comparison, Clinton’s agenda, which includes tax increases to pay for federal programs, has been estimated to increase the debt by $250 billion over ten years, according to an analysis by the Committee for a Responsible Federal Budget.
The nation’s corporate tax would also be slashed – from 35 percent to 15 percent.
Earlier this week, Trump’s campaign manager said of Clinton’s decision to initially withhold her pneumonia diagnosis from the public: “We hope she’s fully recovering and she comes back to the campaign trail soon”.
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To reiterate: The Trump campaign really, really does not want us to be talking about Trump’s taxes. A 33 percent top rate on businesses would make Trump’s plan to tax carried interest of equity managers more impactful than it was in the previous year’s plan. It would raise the standard deduction and cap itemised deductions, which he said would reduce tax loopholes. However, their estimates also find that if Trump is elected and enacts his proposed economic policies, USA growth would slow and fall near zero percent in 2019, slowing the overall GDP growth by a projected $1.75 trillion.
