So the Trump tax plan outline has been released to the public. The plans calls for three tax brackets of 10%, 25% and 35%, down from the current seven different tax brackets. The plan also calls for lowering corporate income tax from 35% to 15%. Trump is also killing the death tax and doubling the tax deduction to $24,000 per year. This means, you will pay no tax on your first $24,000 earned per year.
| Trump tax plan: dropping 7 tax brackets to 3 |
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10-25-35% only 3 tax brackets under Trump's new plan instead of 7 like Obama Force on us, Trump also doubling the tax deduction to $24000
— Dwayne Moore (@nationdivided) April 26, 2017
Here's a few goals from the Trump Tax reform:
3 Tax Brackets
Repeal Death Tax
15% Business Tax Rate
One-time tax on trillions held overseas pic.twitter.com/ACTtbGUSZV— Jack Murphy (@RealJack) April 26, 2017
Now watch the media call this Trump tax plan “dangerous” and “controversial.” The Democrats of course will do their usual obstructing.