Trump's tax plan: will it be blowing out the deficit? - ANZ
|Analysts at ANZ explained that the Trump tax plan includes a 20% corporate tax rate, a 25% tax rate for pass-through businesses and reduced 35% top income tax rate for individuals (as well as reducing the number of income tax brackets from seven to three).
Key Quotes:
"The infamous border adjustment tax is not part of the plan.
The number of individual marginal tax brackets go from 7 to 3 or 4 (35%, 25% and 12%).
The lowest rate is a hike from 10%! The challenges are two- fold.
Does it have bipartisan support (his own party is divided) and how can it be paid for without blowing out the deficit?
A comprehensive overhaul has eluded policymakers for decades. This one will face an uphill battle."
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