Despite how a person votes, it is important to know the stance each candidate has on key issues in order to make an informed decision. Here are some important viewpoints the candidates have about the U.S. economy and financial markets to take into consideration.
Trump wants to condense current tax brackets into fewer income levels while increasing deduction limits for single and married people and repealing some existing taxes already in effect on the upper class. Clinton would direct taxes towards income levels of over $1 million, which could still affect the average American, and make the calculations of capital gains taxes more complex. Previously, it is the income bracket that determines the level of capital gains taxes.
Although the subject of simplifying the tax code has not been addressed verbally by each candidate, Clinton has indicated plans for addressing the tax code issues which currently affect many small businesses. She hopes this will help the growth and sustainability of many businesses. There is an outline on Trump’s website addressing the need to reduce itemization on tax returns.
When it comes to child-care tax breaks, both presidential candidates agree. They hope to provide greater assistance for the increasing costs of child-care.
Each candidate has a different view on estate taxes. Trump would repeal the estate tax completely while Clinton would lower the minimum require and increase the maximum gained from this tax.
Although not all areas of the Economy are going to be affected by the candidates running for president, there could still be areas that are severely impacted.
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