Posted on 05/11/2016 7:00:11 PM PDT by Hojczyk
Economist and CNBC host Kudlow tells Politico the changes he and Moore are recommending are just "tweaking" Trump's original plan, but the Tax Foundation now estimates those revisions would expand the deficit by $3.8 trillion.
"The full effect of all the things we talked about would have a very important reduction in the deficit," Kudlow tells Politico. "The economic growth would be increased, as would jobs and wages."
Trump's initial plan included eliminating federal income taxes for individuals making less than $25,000 and for married couples earning below $50,000, slashing the highest income tax rate from 39.6 percent to 25 percent and cutting the business tax rate from 35 percent to 15 percent.
Some of those numbers could now shift, Kudlow tells Politico, adding, however: "Mr. Trump has not signed off on any of this."
Economist and CNBC host Kudlow tells Politico the changes he and Moore are recommending are just "tweaking" Trump's original plan, but the Tax Foundation now estimates those revisions would expand the deficit by $3.8 trillion.
"The full effect of all the things we talked about would have a very important reduction in the deficit," Kudlow tells Politico. "The economic growth would be increased, as would jobs and wages."
Trump's initial plan included eliminating federal income taxes for individuals making less than $25,000 and for married couples earning below $50,000, slashing the highest income tax rate from 39.6 percent to 25 percent and cutting the business tax rate from 35 percent to 15 percent.
Some of those numbers could now shift, Kudlow tells Politico, adding, however: "Mr. Trump has not signed off on any of this."
(Excerpt) Read more at newsmax.com ...
Kudlow is someone the taxpayers should at least give a listen to.
every citizen should pay taxes.
According to several tax calculator sites that show tax effects under various candidates Trump would give my family a 40% cut...considering that we’re at that threshold of vanishing deductions and credits because of being too middle class...a very good thing.
“...cutting the business tax rate from 35 percent to 15 percent. “
‘bout time.
America should be the best place in the world to do business.
Like it used to be.
“every citizen should pay taxes.”
Every non-citizen should pay double.
I agree, all should pay some.
That’s an awful picture——the poor guy.
Those animals !!!!!!
.
make so the rich never get away without paying at least 10% and stop the paying no taxes bull
Walmart shoppers pay corporate taxes.
And stop the earned income credit. No reason someone poor with kids should get back more than they paid in.
Kudlow was pretty much a nevertrump but if Trump is a supply sider he would get on-board.
In neoCon and out of the closet communist budgeting 3.8t is a budget cut!
And so whence has congress, senate, prez ever taken advice on deficit growth before?
10% federal sales tax. Abolish all other federal taxes.
Equal taxes.
BINGO!
Skin in the GAME
I like how whenever any sort of tax proposal comes out there is a scholarly analysis that comes out THREE MINUTES LATER that makes all manner of claims and projections and howls of woe over how many children will starve if this or that proposal is enacted.
Who is “The Tax Foundation”? Never heard of it. Grover Norquists’ pool boy?
We have no deductions and no credits. Every April 15th when I have to write that check on top of what we’ve paid all year I’m fit to be tied. And we are definitely middle class. I don’t think I’d mind so much if everyone paid taxes but with almost 50% not paying a dime and actually getting money back that they never paid in it peeves me off.
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