Which presidential candidate’s tax plan would be best for the middle class?
Posted by the American Conservative on Tuesday, December 15, 2016 07:28:30 In our current system, the rich pay the lion’s share of taxes.
They’re the ones that can afford to pay their fair share and to take advantage of the tax benefits they have to offer.
Tax reform could provide middle class families the opportunity to do so.
In fact, if we truly wanted to improve our country, we’d do a better job of paying for our fair share of social services.
Our middle class is one of the most vulnerable in the country, as they depend on the support of the government to provide for their basic needs, such as health care, education, housing, and nutrition.
This would not only increase the amount of money they need to spend on their basic survival needs, but also would allow for the creation of new, sustainable jobs for the people of our country.
The top marginal tax rate currently stands at 35 percent, which is one the highest in the world.
This is the lowest in the industrialized world.
And when you add in the top marginal rate, it actually takes away one of our biggest sources of economic growth.
A top marginal income tax rate of 15 percent would help lower our economic inequality and help reduce the deficit.
We could lower the top rate to 12 percent, and we could raise the top tax rate from 35 percent to 15 percent.
This alone would reduce our national debt by nearly $1 trillion and reduce the national deficit by $1.6 trillion.
This plan would also lower the federal tax burden for businesses by lowering their corporate income tax from 37 percent to 20 percent.
But we should not forget that we are also reducing the tax burden on individuals and families by increasing the personal exemption and deductions.
The plan would not affect individuals who do not file a tax return, but instead only the filers who make less than $200,000 per year.
It would increase the child tax credit to $2,000, and it would allow the child exemption for families with children to be increased to $1,000.
And it would also provide the Earned Income Tax Credit, which helps the working poor and low-income families.
All of these reforms would help the middle classes of our nation and the middle-class families who rely on the government’s assistance to help them.
As President, I will work with Congress and our allies to implement these proposals, and I will also work to create more middle-income jobs.
This proposal would provide a $1 billion increase in the child credit, a $700 billion increase for the Earns Payroll Tax Credit and a $300 billion increase to the Earners’ Credit for low-wage workers.
As a result, I would give every single American child a $2 tax credit, which would go toward paying for preschool and after school programs for families in need.
This $2 billion boost in child care funding would give over 2 million families the option to take a $200 tax credit toward childcare costs.
That would give them an opportunity to send their children to a preschool or kindergarten program in the next three years.
And the Earnest’s Credit would help every single working family afford to send one child to a private school.
The American people deserve better than the status quo.
The President would also expand the Earnings Tax Credit to cover up to $5,000 of taxable income, with a maximum credit of $5 million.
This credit would help more than 2 million working families, many of whom are families who depend on childcare subsidies from their employers.
The Earnest Credit will help millions of working families who are struggling with the cost of childcare costs, including parents with small children.
This change would also help more Americans with modest incomes, who often have trouble making ends meet.
Finally, the President’s plan would create $2.5 billion to extend the earned income tax credit for all working families and provide a refundable tax credit of up to one half of the cost.
This could give families with an income under $50,000 a refund on the full amount of the credit.
The middle class will be better off with this plan.
The $2 trillion in additional tax revenue will help expand our economy and help us pay down our national deficit.
The proposed $1-trillion increase in child-care tax credits would provide tens of millions of families with access to preschool, preschool for the very first time, and preschool for a new generation of middle- and working-class children.
The tax reform plan will provide $3.4 billion in additional federal support to provide childcare assistance for working families.
The proposal would also create a Child Care Tax Credit of up $1 per child for families who earn less than two hundred thousand dollars per year, including families with small families.
This will help more working families afford to provide a new preschool for their children, and give families a new tax break to help pay for childcare.
The new Earnest Tax Credit for working parents would allow