Comparing Candidates And Health Care Plans

1787 Words8 Pages
Comparison of Candidates’ Tax and Health Care Plans Every American who earns income has a financial interest in knowing how each candidate plans to grow the U.S. economy while generating enough federal tax revenue to fund critical programs and meet the government 's obligations. Two of the most controversial issues that have been discussed in this election cycle are the candidates’ tax plan and health care reform. Trump is focusing on cutting taxes for everyone, reducing the number of tax brackets from seven to three, and higher the taxes on the wealthy - 4% tax increase on those who earn more than 5 million dollars. He would reduce the top rate of tax to 33% from 39.6% ("Where Donald Trump and Hillary Clinton Stand"). Clinton, on the other hand, wants to raise taxes on the wealthy and lower taxes on companies that hire more people. She would keep the taxes the same, but add an additional bracket for the highest earners. Clinton has proposed altering the medium-term and long-term capital gain tax benefits for people with at least 5 million dollars in earned income. Investors wouldn 't see any reduction in long-term capital gains taxes until they hold their investment for at least two years, and they wouldn 't see the current 20% rate unless they were to hold investments for six or more years. She is also taking aim at estate tax reform and social security payroll tax. Clinton 's plan would add 1.1 trillion in revenue over the next 10 years (Sahadi) Clinton Tax Brackets
Open Document