Tags: Donald Trump | Paul Ryan | Trump | GOP | Tax Plans | Agree | Cuts

Trump, GOP Tax Plans Find Harmony in Tax Cuts for the Rich

Image: Trump, GOP Tax Plans Find Harmony in Tax Cuts for the Rich
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By    |   Monday, 11 Jul 2016 10:43 AM

Much has been made about the litany of conservative principles that are a dividing line between Donald Trump and the Republican Party, but tax cuts for the rich is not one of them.

The House Republicans' plan, led by Speaker Paul Ryan, to revamp the country's antiquated tax code finds in its result three major principles that are in accord with Donald Trump's plan, The New York Times reports:
  • Elimination of the Estate Tax;
  • Elimination of the surtax on high earners' investment income;
  • Elimination of the alternative minimum tax.
The two plans take widely different paths to get there, but they're "pulling in the same general direction," one economics adviser told the Times.

One major difference between the two plans is the cost. The Times reports that Ryan's plan would cost $2.4 trillion in the first decade vs. Trump's costing $9.5 trillion.

"[Trump's] plan has a bigger revenue loss and more harmful effects on the budget outlook" while "the Ryan plan is more revolutionary from the standpoint of tax policy," Alan Viard of the American Enterprise Institute told the Times.

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Much has been made about the litany of conservative principles that are a dividing line between Donald Trump and the Republican Party, but tax cuts for the rich is not one of those.
Trump, GOP, Tax Plans, Agree, Cuts, Rich
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2016-43-11
Monday, 11 Jul 2016 10:43 AM
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