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1 Cole Alan, Details and Analysis of Donald Trump's Tax Plan 1 (2015)

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FOUNDON                      Details and Analysis of

FISCAL                       Donald Trump's Tax Plan

FACT
Sept 2015                   By  Alan   Cole
No. 482                         Economist



                            Key   Findings

                                Mr. Trump's tax plan would substantially lower individual income taxes and
                                the corporate income  tax and eliminate a number  of complex features in
                                the current tax code.

                                Mr. Trump's plan would  cut taxes by $11.98 trillion over the next decade
                                on a static basis. However, the plan would end up reducing tax revenues  by
                                $10.14  trillion over the next decade when accounting for economic  growth
                                from increases in the supply of labor and capital.

                                The plan would  also result in increased outlays due to higher interest on
                                the debt, creating a ten-year deficit somewhat larger than the estimates
                                above.

                                According  to the Tax Foundation's Taxes and Growth  Model, the plan would
                                significantly reduce marginal tax rates and the cost of capital, which would
                                lead to an 11 percent higher GDP  over the long term provided that the tax
                                cut could be appropriately financed.

                                The plan would  also lead to a 29 percent larger capital stock, 6.5 percent
                                higher wages, and 5.3 million more full-time equivalent jobs.

                                The plan would  cut taxes and lead to higher after-tax incomes for taxpayers
                                at all levels of income.
The Tax Foundation is a 501(c)(3)
non-partisan, non-profit research
institution founded in 1937 to
educate the public on tax policy.
Based in Washington, D.C., our
economic and policy analysis is
guided by the principles of sound
tax policy: simplicity, neutrality,
transparency, and stability.
©2015 Tax Foundation
Distributed under
Creative Commons CC-BY-NC 4.0
Editor, Melodie Bowler
Designer, Dan Carvajal
Tax Foundation
1325 G Street, NW, Suite 950
Washington, DC 20005
202.464.6200


taxfoundation.org

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