What Would Trump And Clinton’s Tax Plans Actually Mean For Your Wallet?

Sometimes, the presidential election can seem like a fight happening in an alternative universe that doesn’t actually mean anything to regular people.

But luckily the folks at USTaxCenter have crunched the numbers and figured out something more concrete: what do the leading candidates for President tax plans mean for your bottom line?

Here’s what they found:

irs.com_presidential_taxes_x2_v03

Now, one note of caution when looking at this.

While Donald Trump’s plan looks good on paper, there are many reasons to think that it could actually do damage to the overall health of the economy. His plan would take out nearly $10 trillion in government revenue. Presumably, if he wanted to cut the deficit and debt, he would have to offset that loss of revenue with massive cuts. And it is not at all clear that he would actually be able to get his tax plan through Congress.

For Hillary Clinton, her plan is basically maintaining the status quo with some minor adjustments and some more tax credits for caregivers.

RISE NEWS is a grassroots journalism news organization that is working to change the way young people become informed and engaged in public affairs. You can write for us.

Photo Credit: USTaxCenter/ Submitted

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