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Trump promises to simplify and streamline tax code

Monday, September 28, 2015 - 01:27

U.S. Republican presidential front-runner Donald Trump unveils his tax reform plan, promising to vastly simplify the U.S. tax code if he becomes president at 2016 election. Rough Cut (no reporter narration).

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+++ VIDEO AS INCOMING +++ ROUGH CUT (NO REPORTER NARRATION) STORY: U.S. Republican presidential front-runner Donald Trump on Monday (September 28) promised to simplify the U.S. tax code and eliminate deductions and loopholes for special interest groups if he become president at the November, 2016 election. Trump told supporters during a news conference at Trump Tower in Manhattan that his proposed tax graduated plan would cut the current number of income tax brackets for individuals from seven down to just four -- 25, 20, 10 and zero percent. "If you're single and earn less than $25,000 per year or married and jointly earn less than $50,000... you'll not pay any income tax, nothing," Trump said. Trump said his tax plan, among other things, would also reduce or eliminate deductions and loopholes for special interest groups, and end deferred taxes on corporate income earned abroad. He said his tax reform plan directly addresses the offshoring of U.S. jobs for the middle class and that, if elected, he would eliminate the marriage tax penalty as well as the so-called death tax.

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Trump promises to simplify and streamline tax code

Monday, September 28, 2015 - 01:27