The article goes on to detail the components of Donald Trump's tax plan, and the improbability of such a plan. Essentially, the tax plan falls in line with many mainstream candidates; cut the tax rate for the highest incomes, cut the corporate tax rate, and reduce the number of americans on the income tax roll. Where it goes off the rails is with how he essentially took Jeb's tax plan, and cut it FURTHER. Tax rate for top earners: 28% down to 25%. Corporate tax, 20% to 15%. The most staggering is the number of Americans being brought off the income tax. Jeb estimates his plan at 15 million being taken off, but Trump says "15 million? I don't get out of bed for less than 75 million!" Well, maybe not in those exact words, but thats what he's proposing.
So does Trump expect a rise in the deficit even though he has slashed nearly every tax in his path? Of course not! His camp states that the US economy would only need to grow 3% yearly during his presidency in order to remain deficit neutral. Besides some ambiguous and vague language, the plan doesn't really propose any way to bring in additional revenues. He is basing his entire plan on "good faith." With interest rates expected to rise, consistent growth isn't something you can really hang your hat on. The man is full of ambition, but also not the best ideas. I don't expect to see him "winning" in the White House, ever (hopefully).
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