Taxes. We all love them, right? Now with a new president, you better bet that our tax plan is going to change. But with all of the controversial issues tossed around in this election season, you might need a bit of a refresher on Trump's Flat Tax Plan. Here are the main points, and what this means for you.
1. Reduce taxes
Trump wants to reduce taxes for everyone, but especially the working and middle-class Americans, who cannot afford their taxes in the first place.
2. No insane tax rates, even for the rich
In Trump's tax plan, everyone is a fair player. The wealthy will pay what they must, but no one's going to be paying exorbitant taxes. His goal here is to keep the spirit of entrepreneurialism and free-market economy in tact. He wants to preserve competition and jobs.
To do this, Trump plans to eliminate "special interest loopholes" and keep the business tax rate down to encourage competition and keep jobs on the home field.
4. Make it easier on families
Trump plans to allow families to deduct the average cost of childcare from their taxes, which would include stay-at-home parents.
For a breakdown on the specifics of Trump's tax plan, including the tax bracket plan, deductions, and business tax, be sure to check out his policies on his website.