Trump wants a top tax rate of 15%.
That is a tax CUT for the top wage earners.
He wants to eliminate a tax-loophole that applies to hedge-fund managers.
If the loop hole completely negates the base rate then the end result of changing both would be the rich will pay more.
You could have a top tax rate of 90%, but if there is a loophole that allows you to pay zero... what does it matter.
(THIS is what liberals always miss when it comes to tax rates in the past)
That hedge fund tax loophole is currently higher than 15%.
I suspect Trump’s plan will end up with a higher top rate.
He did want a top rate of 15% in 2011. Since then we have had the implementation of ObamaCare and a huge increase in the federal budget.
He would have to increase his targets at each level to cover the budget, AND it should not include borrowing.
That means spending would have to be reduced over time, but that will be harder to get done. Personally, I’d like to see the same thing: a flat rate across all programs equally with zero exceptions for anything. (If exceptions ARE made, then the military and retiree and veteran salaries, pensions, and deferred benefits MUST be the lowest percentage of any exception allowed.)