Subject: The Trump Tax Plan -- By the Billionaire, For the Billionaires
From: Hillary for America Press <[email-masked]>
To: Hillary for America Press <[email-masked]>
Date: Wed, 11 May 2016 12:34:58 -0400
List-Id: <nationalpress2016.hillaryclinton.com>

**

*The Trump Tax Plan -- By the Billionaire, For the Billionaires*

*Tax plan Trump called “tremendous” and “inspiring” will add $34 trillion
to the debt, at the expense of working families, seniors, and economy*

The trillions in tax cuts for millionaires, billionaires and corporations
laid out in Donald Trump’s tax plan would be an enormous boon for the top
one percent of earners, made at the expense of working families, seniors
and the health of our economy.

Trump extensively praised the plan when he released it, calling it
“inspiring,” “tremendous” and saying it would lead to an “amazing” tax
code. Now, after a little pressure, he says he’s going to revisit his tax
plan. But his risky and regressive tax proposal
<https://www.donaldjtrump.com/positions/tax-reform> is laid out on his
website, in black and white, and has been available since last year for
anyone to see.

Trump’s plan would increase the national debt by $34 trillion and cut
millionaires’ taxes to the lowest level in modern history as a share of
their incomes, while one analysis found middle class families could lose
more than $2,000 a year with all the cuts needed to pay for it.

Read the fact sheet below for the details of Trump’s tax plan:

*FACT SHEET: Trump’s Risky and Regressive Tax Plan Slashes Taxes for
Millionaires and Corporations*

Donald Trump wants to run the American economy like the companies he drove
in and out of bankruptcy: running up debt by the billions, and running it
into the ground. His tax plan
<https://www.donaldjtrump.com/positions/tax-reform> would slash tax rates
for millionaires, billionaires, and the largest corporations – adding $34
trillion to our national debt over 20 years
<http://www.taxpolicycenter.org/publications/analysis-donald-trumps-tax-plan>according
to independent, non-partisan experts. His plan would provide a tax cut of
$1.3 million per year
<http://www.taxpolicycenter.org/sites/default/files/alfresco/publication-pdfs/2000560-an-analysis-of-donald-trumps-tax-plan.pdf>
for multimillionaires in the top 0.1%, giving them a raise of $100,000 per
month, and shower $3 trillion
<http://www.cbpp.org/research/federal-tax/millionaires-would-gain-trillions-under-trump-and-cruz-tax-plans>
on millionaires and billionaires over the next 10 years. And ordinary
families would be left holding the bag, with the top 0.1% of taxpayers
getting more relief than the bottom 60% combined.

Trump’s proposal is a plan for the billionaires, by the billionaire.
Despite his attempt at a general election “makeover,” his tax plan shows
how unreliable and unready Trump is to manage the largest economy in the
world, and make sure the tax code is not rigged for the wealthy and big
corporations:

   - *Trump’s tax plan would be great for Trump – slashing taxes for
   millionaires by $3 trillion, and giving multi-millionaires a raise of
   $100,000 per month: *Trump and his tax plan are a perfect example of a
   rigged system that showers millionaires and billionaires with tax breaks
   they do not need. *His plan would
   <http://www.cbpp.org/research/federal-tax/millionaires-would-gain-trillions-under-trump-and-cruz-tax-plans>
   give $3 trillion over 10 years or more than 35% of its tax breaks to
   millionaires,* enough money to ensure Medicare and Social Security’s
   solvency for the next 75 years, repair our ailing infrastructure, or raise
   every person now living in poverty up to the poverty line. Trump would
   <http://www.taxpolicycenter.org/sites/default/files/alfresco/publication-pdfs/2000560-an-analysis-of-donald-trumps-tax-plan.pdf>
   give multi-millionaires in the top 0.1% like himself a raise of $1.3
   million a year, or $100,000 a month.

   - *Trump is right to call himself the “king of debt,” because his tax
   plan would add $34 trillion to the debt over the next two decades: *The
   independent, non-partisan Tax Policy Center analyzed Trump’s tax plan and
   found
   <http://www.taxpolicycenter.org/sites/default/files/alfresco/publication-pdfs/2000560-an-analysis-of-donald-trumps-tax-plan.pdf>:
   “Including interest costs, *the proposal would add $11.2 trillion to the
   national debt by 2026 and $34.1 trillion by 2036* . . . . Assuming the
   tax cuts are not offset by spending cuts, the national debt would rise by
   an estimated 39 percent of GDP in 2026 and by nearly 80 percent of GDP by
   2036.” Americans worried about whether he is prepared to lead our economy
   should take him seriously when he says
   <http://www.cnbc.com/2016/05/05/trump-self-proclaimed-king-of-debt-will-have-to-fine-tune-plans.html>,
   *“I am the king of debt. I do love debt. I love debt and I love playing
   with it.”*

   - *Trump’s tax plan provides more than $3 trillion in tax breaks for
   corporations – and slashes tax rates on hedge funds and Wall Street money
   managers by one-third:* Trump’s tax plan slashes corporate tax
rates, *cutting
   <http://www.taxpolicycenter.org/sites/default/files/alfresco/publication-pdfs/2000560-an-analysis-of-donald-trumps-tax-plan.pdf>
   taxes for corporations by more than $3 trillion over 10 years.*
   Additionally, despite claims to the contrary, the plan gives an even bigger
   tax break to hedge funds and Wall Street money managers that today benefit
   from the “carried interest” loophole, which can allow them to pay lower
   rates than middle-class families. That is because the plan lowers tax rates
   on their kind of business - as the Tax Policy Center describes
   <http://www.taxpolicycenter.org/sites/default/files/alfresco/publication-pdfs/2000560-an-analysis-of-donald-trumps-tax-plan.pdf>,
   “carried interest would be taxed at a much lower rate than under current
   law…because the entities that earn carried interest income are organized as
   partnerships…Under the Trump plan, that income would be taxed at a top rate
   of 15 percent, a reduction of more than one-third.”

   - *Trump’s tax breaks for millionaires would leave working families
   holding the bag: *Under Trump’s plan, *the top 0.1% of taxpayers, the
   wealthiest 1 out of every 1,000, earning multiple millions of dollars a
   year on average, would get more tax relief than the bottom 60% of taxpayers
   combined.* One analysis
   <http://ctj.org/ctjreports/2016/03/the_net_effect_paying_for_gop_tax_plans_would_wipe_out_income_gains_for_most_americans.php#.VyzgAvkrLIV>
   found that the net effect of Trump’s enormous tax cuts for the wealthiest
   and the spending cuts that could be needed to pay for them would leave
   working families far worse off: a middle class family would lose, not gain,
   more than $2,000.

Trump’s tax plan and irresponsible statements clearly demonstrate the risk
a Trump presidency would bring to working families. Hillary Clinton, on the
other hand, will bring America together to expand and strengthen Social
Security and Medicare, rein in risk on Wall Street, close special tax
breaks for the wealthiest and largest corporations, and create good-paying
jobs with rising incomes for middle-class families. She believes that
instead of showering tax cuts on the most fortunate and leaving ordinary
Americans to fend for themselves, we need to break down barriers and build
an economy where we can grow together.

###

For Immediate Release, May 11, 2016
Contact:
​press <goog_330605560>
@hillaryclinton.com

PAID FOR BY HILLARY FOR AMERICA
Contributions or gifts to Hillary for America are not tax deductible.
Hillary for America, PO Box 5256, New York

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