Donald Trump's tax plan,
which he announced on Monday, would be good for the country, Americans for Tax Reform President Grover Norquist tells "Newsmax TV."
"First of all, it's not a tax increase. It's a significant tax cut," Norquist told "Newsmax Now" host John Bachman. "Two, it takes the corporate income tax and business taxes for partnerships and small businesses from 35 percent down to 15 percent. That's makes us competitive with Hong Kong and Singapore and Canada and all these other countries that have lower business taxes than we do."
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For individuals, Trump's plan reduces marginal tax rates, simplifies the code, eliminates the alternative minimum tax, and kills the death tax.
"It's a good plan," Norquist said.
Trump has not signed ATR's tax pledge, but Norquist said Trump's plan is "clearly consistent with the pledge," which reads:
I, ______, pledge to the taxpayers of the ______ district of the state of ______ and to the American people that I will: One, oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses; and Two, to oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates.
Norquist said he expects Trump to sign the pledge since it is in sync with his plan and everything he says about taxes.
Trump's plan includes a tax cut, which Norquist said doesn't violate the pledge. Only tax increases do.
"If we move from 2 percent growth under Obama – that's what the French have is 2 percent growth – to 4 percent growth, which is what we had under Reagan," Norquist said. "With 4 percent growth instead of 2 percent, over 10 years, the government raises $5 trillion in higher taxes – not through higher tax rates but more revenue because more people are working."
Trump's plan moves in the same direction as Rep. Paul Ryan and the Ways and Means Committee, he said. "It's moving in the same direction as Rand Paul's tax reform and Rubio's tax reform. It's a consensus document for Reagan Republicans."
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