Axios article The Trump tax plan he just unveiled would slash the corporate tax rate from 35% to 15%, as well as some other deductions and exemptions.
The plan has been the focus of a debate among progressive activists.
Sanders has proposed a 10% corporate rate, but his plan would still cut the corporate rate to 15%.
Trump’s plan, meanwhile, has a higher corporate rate than Sanders’ plan, but it’s capped at 15%.
Trump has also proposed a flat rate on high earners.
That could mean a higher rate on the top 1% of earners, which could potentially affect middle-class families.
Trump has proposed lowering taxes for the middle class, but some progressives have argued that would hurt low-income earners and families.
Trump’s tax cuts, though, would benefit most people, regardless of income level.
His plan would be a boon for people making $200,000 to $250,000 a year, and the wealthiest 1% would get a bigger tax cut than in past years.
Trump also said he’d cut taxes on businesses, which would make a lot of sense given that they’re the biggest employer in the country.
It’s possible that Trump could cut taxes as low as 15%, but the tax cuts would only apply to the wealthiest.
