Election Project Roles/Issues Worksheet

Name:

Aspen Lee

Candidate Name:

Donald J Trump

Campaign Role:

Economy

Issue: Tax Plans

What does your candidates website say?

1. Reduce taxes, especially working and middle class
2. Ensure rich pay fair share but not so much to destroy jobs
3. Eliminate special interest loopholes
4. Business tax rate more competitive to keep jobs
5. Reduce cost of childcare
Link:

https://www.donaldjtrump.com/policies/tax-plan/

Quotes:

Reduce taxes across-the-board, especially for working and middle-income

Americans.

collapse the current seven tax brackets to three brackets

increase the standard deduction for joint filers to $30,000, from $12,600, and the
standard deduction for single filers will be $15,000.
cap itemized deductions at $200,000 for Married-Joint filers or $100,000 for Single
filers
repeal the death tax, but capital gains held until death and valued over $10 million
will be subject to tax to exempt small businesses and family farms
able to take an above-the-line deduction for children under age 13 that will be
capped at state average for age of child, and for eldercare for a dependent.

Notes:
Wants to change brackets from 7 to 3
Repeal 3.8% obamacare tax on investment income
Repeal alternative minimum tax
Increase standard deduction for married-joint to $30000 to $12600 and for
single $15000
Cap itemized deductions to 200000 for married-joint and 100000 for single
Repeal death tax
Make above the line deduction available for children under 13, state average
age for child, and eldercare for a dependent
for people below total income of $500000 for married-joint and
$250000 for single
Is allowed for stay at home parents, grandparents, and paid
caregivers
Limited to 4 children
Eldercare exclusion capped at $5000, can increase cause
inflation
Rebate for childcare expenses to certain low income through Earned Income
Tax Credit
7.65% of remaining eligible child care expenses
Available to married joint earning $62400 or for single $31200 or
less
Dependent Care Savings Accounts
Benefit of specific individuals
Total yearly contributions limited to $2000
When for children, can be used for education when child is 18
but can no longer be added to
Govt will give 50% match on parental contributions of up to
$1000 per year
Deposits will be free from taxation

Lower Business Tax

provide a deemed repatriation of corporate profits held offshore
at a one-time tax rate of 10 percent
Allow to elect expense capital investment
Annual cap for the business tax credit for on-site childcare increased to
$500,000 per year (up from $150,000) and recapture period would be reduced to 5
years (down from 10 years)

Summary (This should be like an opening statement in the debate!)

My plan consists of just cutting taxes in general. From business taxes to income and capital
gain taxes, I would like to decrease them. I want to cut the tax brackets from 7 to 3. My plan is
to also make sure the wealthy pay their fair share of taxes but also make sure it isnt
detrimental to them. I would also repeal the death tax as well as the alternative minimum tax.
Also to make it possible people to take an above the line deduction for kids under the age of

13, increase the standard deduction, and have a rebate through Earned Income Tax Credit. I
would like for people with a low income to be able to have money to spend on their childs
needs which they can do with the rebate. I would also have all taxpaying Americans to be
able to have a Dependent Care Savings Account. Deposits to that will be free from taxation,
and for children, they will be able to use that money for their education.

What does an outside source say that SUPPORTS your candidates position?
Link:

http://fortune.com/2016/08/01/trump-economics/

Quotes:

according to a new survey, Trumps plan is likely to be seen as the

better choice than Clintons.
wont be much public support for the government using its best tool
for fighting economic inequality...Trump has been successful at
courting some working class voters who have borne the brunt of
growing income inequality

Notes:
Couldnt find that much
Found something showing how we might think a tax policy is benefiting us and
fixing our wealth problem when it is not and vise versa
Proves why people could say Trumps plan would work
in scenarios where money just essentially drops in peoples laps, 50%-to-90%
of all respondents argued against a system of redistributing wealth equally

Summary:
Chris Matthews for Fortune, brings up how a new survey has shown why Trumps plan can be
seen as a better choice. The survey showed that 50%-90% given scenarios of where it could
be helping our issue, people dont seem to realize. Proving why tax plans like Trumps, are
convincing people.

What does an outside source say that OPPOSES your candidates position?
Link:

http://taxfoundation.org/article/details-and-analysis-donald-trump-tax-reform-planseptember-2016

Quotes:

According to the Tax Foundations Taxes and Growth Model, the plan would
reduce federal revenue by between $4.4 trillion and $5.9 trillion on a static basis
After accounting for the larger economy and the broader tax base, the plan would
reduce revenues by between $2.6 trillion and $3.9 trillion after accounting for the
larger economy, depending on the nature of a key policy provision.
the plan would lead to at least 0.8 percent higher after-tax income for all taxpayer
quintiles. The plan would lead to at least 10.2 percent higher incomes for the top 1

percent of taxpayers or as much as 16.0 percent higher, depending on the nature

of a key business policy provision.

Notes:

Beneficial for wealthy

Slightly beneficial for all but majorly for wealthy
Will decrease federal revenue by the trillions over a decade
All happens because of the lower rates
Increase national debt

Summary:
An analysis of Trumps tax plan written by Alan Cole for Tax Foundation, points out that what
would happen if this were in place. Federal revenue would be reduced by $4.4 trillion- $5.9
trillion which would increase the national debt. Although taxes would be reduced and it would
seem beneficial to all, the people that benefit and earn from it the most, would be the already
wealthy. If that were to happen, this issue of the gap would not be solved.