How The 2016 Presidential Election Could Affect Your Taxes презентация

Republicans feel that the U.S. tax system needs an overhaul, and that taxes are too high to encourage economic growth.
Democrats feel the wealthy should pay a higher share.
Here are the details each candidate has released about their tax plans so far.
Note: This slideshow includes candidates polling nationally at 3% support or higher as of 11/4/2015

Overview

income tax for singles who make under $25,000 or married couples making less than $50,000
Eliminate the marriage penalty and Alternative Minimum Tax (AMT)
Maximum corporate tax rate of 15%
No death/estate tax

November 5, 2015

Photo: Gage Skidmore

but favors a flat tax rate between 10%-15%.
Wants to eliminate the estate tax
Has said that a tax return should be completed in 15 minutes or less

November 5, 2015

Photo: Gage Skidmore

donation and mortgage interest deductions for all taxpayers
Wants to create a new $2,000/$4,000 (single/married) refundable tax credit to replace the standard deduction
25% corporate tax rate
0% capital gains tax
0% estate tax
Eliminate marriage penalty and AMT
New $2,500 child tax credit in addition to the current credit

November 5, 2015

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would be tax-free for a family of 4
Keeps the child tax credit and earned income tax credit
No estate tax or AMT
16% business flat tax
Wants to abolish the payroll tax, while fully funding Social Security and Medicare
Claims his tax plan will create 4.9 million new jobs and 12.2% wage growth over the next 10 years.

November 5, 2015

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the standard deduction from $6,300 to $11,300 for single taxpayers and from $12,600 to $22,600 for joint filers.
Keeps deductions for charitable donations and mortgage insurance
Eliminates AMT
Claims the plan will produce 4% economic growth rate

November 5, 2015

Photo: Michael Vadon

simplify the tax code
Says the entire tax code should be able to fit on 3 pages (more than 70,000 currently)

November 5, 2015

Photo: Gage Skidmore

income tax credit by 10%
Lower maximum long-term capital gains tax rate to 15%
No estate tax

November 5, 2015

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rates for all Americans
Proposes 25% corporate tax rate and breaks for companies who repatriate cash held overseas
No payroll tax above age 62 or below age 25

November 5, 2015

Photo: Michael Vadon

to end tax loopholes that benefit the wealthy
Wants to increase “medium-term” capital gains tax rates to 24%-39.6% for investments held less than 6 years
Wants to extend student tax credits
Offers tax incentives for businesses that share profits with employees

November 5, 2015

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first $3.5 million in assets, and increase the top estate tax rate to 65%
Increases taxes on Wall Street speculators
Lifts the cap on income subject to Social Security taxes

November 5, 2015

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