The swamp was furious about this Trump proposal
Swamp creatures invade the federal government through the tax code. Special interest lobbyists carve out exemptions for the well-connected and shaft everyday Americans.
That all changed thanks to one plan put forth by Donald Trump. On the campaign trail, Trump promised the largest tax cut in American history. He took one step closer to achieving that goal by announcing the principles of tax reform he would like to see Congress pass.
In his plan, Trump would simplify the tax code to three brackets down from seven. They would be 35, 25 and 10 percent. Trump would also double the standard deduction for both individuals and families.
His proposal also eliminates all loopholes except the deduction for charitable giving and home mortgages.
Trump would also slash the top corporate tax rate to 15 percent down from 39 percent.
President Trump’s tax proposal has two key benefits.
First, by cutting tax rates and gutting the tax code, Trump is leveling the playing field for regular taxpayers. Your tax rates won’t be determined by your ability to write a check to a lobbyist to manipulate Congress into protecting special interests.
Second, by slashing the corporate tax rate, Trump will remove Obama’s handcuffs from the economy. Lowering rates will allow business owners to invest in their firms, hire more employees and pay out better wages.
Already, members of the liberal media are whining about how Trump will “pay” for his tax cuts. They can’t stand to see the federal government deprived of one dime of money.
They clamor for “revenue neutral” tax cuts which really aren’t tax cuts at all. These “tax cuts” just shift the tax burden around so the government takes in the same amount of money. Trump’s plan won’t do that. It will return more money to the American people by actually cutting taxes.
Conservatives believe it’s the American people’s money anyway and it belongs in their bank accounts instead of the U.S. Treasury. Trump’s plan accomplishes this goal and helps drain the swamp.