Businessman Donald Trump announced his tax reform agenda today, described by the Washington Post below:
Donald Trump unveiled a tax plan on Monday morning that he called a "common sense" proposal to simplify the tax code.
The plan would increase taxes on the "very rich"; reduce taxes for most taxpayers; and eliminate federal income taxes for workers making less than $25,000 per year -- although they would be required to send a one-page document to the Internal Revenue Service that states, "I win."
Trump promised that all of this could happen without increasing the national debt because he expects the economy to improve. He said he would also cut "wasteful spending" from the federal budget, although he did not say how or what the total reduction would be. Some are skeptical that the plan is truly revenue neutral.
Read the full article here.