Ben Carson knocks Trump’s tax plan

Because Trump is a showman, and while this could mean he could actually win a few primary and caucus states – in the case everything goes wrong with the other Republican contenders – and he ends up as a presidential candidate, I will be even less anxious.

Among them: a one-time tax of 10 percent on money corporations are holding overseas that is brought back to the U.S, and the elimination of the ability of companies to defer taxes on income earned overseas.

One of the questions asks voters the importance of an outsider – someone who has not run for elective office – being the GOP nominee. There are not enough tax cuts to implement this scheme, he said. This year’s candidates, however, barely mention that worry.

“This plan … will grow the American economy at a level that it hasn’t seen for decades”, Trump promised Tuesday.

But until he provides a few more details, it’s hard to know if that’s true. He’s proposing a huge overhaul that would cut income taxes for most Americans, including the wealthiest.

However, numerous families in this bracket already pay no federal tax.

Bush’s tax cut is even bigger.

The poorest 20 percent of Americans would see a tax cut averaging $250.

Trump’s plan pointed to the enduring power of traditional conservative thinking – that lower taxes are the best way to spark growth, and any skew toward the wealthy is mainly a reflection of the outsized amount of taxes the rich already pay. They note that the top 1 percent already pays more than a third of federal income taxes, so any large reduction would inevitably benefit them anyhow.

Jeb Bush says Trump’s plan looked familiar. Right now, the top individual rate tops out at 39.6 percent, with a corporate rate of 35 percent.

At the same time, Trump said he would reduce or eliminate “most deductions and loopholes available to the very rich”.

“First of all the growth side cuts this to close to a trillion dollars over 10 years”, he said.

Both Trump and Bush eliminate that loophole, known as “carried interest”. “But according to the Tax Foundation, the conservative think tank that does the scoring for these budgets, it would create a ten-trillion dollar hole that you can’t overcome by any kind of dynamic scoring”.

“I will support the nominee”. Mitt Romney captured only 27 percent of the vote, compared to 71 percent who supported Barack Obama.

The controversial and often bombastic Mr. Trump sells himself to voters as a Washington outsider who is not a typical politician.