Donald Trump has announced his tax plan today which lowers taxe brackets across the board on everyone and eliminates taxes on a large swath of people. He also lowers the corporate and small business taxes. You can listen to his announcement below: <br /> <br />The Trump Tax Plan Achieves These Goals <br /> <br />If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax. That removes nearly 75 million households – over 50% – from the income tax rolls. They get a new one page form to send the IRS saying, “I win,” those who would otherwise owe income taxes will save an average of nearly $1,000 each. <br />All other Americans will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax (AMT) while providing the lowest tax rate since before World War II. <br />No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes. This lower rate makes corporate inversions unnecessary by making America’s tax rate one of the best in the world. <br />No family will have to pay the death tax. You earned and saved that money for your family, not the government. You paid taxes on it when you earned it.
