make america great
The Trump Tax Plan: A Simpler Tax Code For All Americans: When the income tax was first introduced, just one percent of Americans had to pay it. It was never intended as a tax most Americans would pay. The Trump plan eliminates the income tax for over 73 million households. 42 million households that currently file complex forms to determine they don’t owe any income taxes will now file a one page form saving them time, stress, uncertainty and an average of $110 in preparation costs. Over 31 million households get the same simplification and keep on average nearly $1,000 of their hard-earned money.
For those Americans who will still pay the income tax, the tax rates will go from the current seven brackets to four simpler, fairer brackets that eliminate the marriage penalty and the AMT while providing the lowest tax rate since before World War II:
Income Tax RateLong Term Cap Gains/ Dividends RateSingle FilersMarried FilersHeads of Household
With this huge reduction in rates, many of the current exemptions and deductions will become unnecessary or redundant. Those within the 10% bracket will keep all or most of their current deductions. Those within the 20% bracket will keep more than half of their current deductions. Those within the 25% bracket will keep fewer deductions. Charitable giving and mortgage interest deductions will remain unchanged for all taxpayers.
Simplifying the tax code and cutting every American’s taxes will boost consumer spending, encourage savings and investment, and maximize economic growth.
Thanks for being with us! Despite the risk, in a very tough and uncertain economy, we started this magazine as a voice of working Americans of all backgrounds, cultural, political, ethnic and religious. We seek to raise our voices and be heard by those in positions of power: Politicians, officials, media providers, etc. Through this magazine, we intend to express our concerns as well as yours, to move beyond the dichotomy of conservatives versus liberals, to find the best answers to our concerns as citizens.
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