Politics

Brief overview: Trump tax plan

(INTELLIHUB) — David Quintieri gives a brief breakdown of President Donald Trump’s tax plan.

According to Quintieri, the top seven elements of the plan are as follows:

  • 7 income brackets to 3: 10%, 25%, and 35%
  • Double standard deductions for married couples to $24,000
  • Eliminate the alternative minimum tax and the estate tax
  • Lower capital gains tax to 20%
  • Repeal inheritance or “death” tax
  • Cut corporate tax to 15%
  • Propose a “tax holiday” for corporations keeping profits offshore to “repatriate”
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