Donald Trump's Tax Plan To Exempt 93M Americans From Income Taxes
Donald Trump’s tax reform plan could exempt roughly 93.2 million Americans, or just under half of the U.S. electorate, from part of their income taxes. The Republican nominee has proposed eliminating taxes on tips and Social Security benefits. Trump also said he would think about exemptions for firefighters, police, and military personnel, according to CNBC. JUST IN: Donald Trump's tax plans could exempt 93 million Americans from income taxes, CNBC reports. — Watcher.Guru (@WatcherGuru) October 21, 2024 Trump plans to transition away from the income tax system and replace it with the revenue he expects to generate from his hardline tariff proposals. His tariffs would cause American companies to pay extra for imports. He pledged to impose a 20% universal tariff on all imports from all countries. This includes a specific 60% rate for Chinese imports. “In the old days when we were smart, when we were a smart country, in the 1890s and all, this is when the country was relatively the ...