Phoenix economist breaks down Donald Trump, Hillary Clinton tax plans
Aug 9, 2016, 3:39 PM
PHOENIX — Presidential nominees Donald Trump and Hillary Clinton are talking about the economy, but their plans are very different.
Trump’s plan is a “classic Republican approach” to taxation , while Clinton’s plan is a classic Democratic approach, according to Danny Court, a senior economist with Elliott D. Pollack and Company, told KTAR News 92.3 FM’s Bruce St. James and Pamela Hughes on Tuesday morning.
Trump spoke Monday in Detroit to lay out his economic plan.
“Donald Trump really falling in line with what House Republicans have been working on over the past few years, which is simplifying tax policy and also lowering the rates of higher income and also middle income Americans,” Court said.
Court said what he finds most interesting about Trump’s plan is, “he’s basically taking our current income tax brackets from seven brackets down to just three, so a huge simplification.”
Court said Clinton’s plan is “to keep the tax brackets the same, except if you make more than $5 million a year, so a very high income earner, it would be a 4 percent surtax on top of the highest bracket.”
Clinton is expected to make an economic policy speech on Thursday, but Court offered this thought:
“If you’re a high income earner, or wealthy, you are not a fan of the Hillary Clinton plan,” Court said.
