Donald Trump revealed new details about his tax plan in an interview that aired Sunday, saying that a “large segment” of Americans would pay no federal income taxes. Disclosing several key planks of his tax reform plan on CBS’s “60 Minutes,” Trump said he would set a “zero rate” for low-income Americans, cut corporate taxes, and suggested that he would raise taxes on some of the wealthiest Americans.
Trump’s plan will feature individual tax rates that range from 0% – for individuals making less than $25,000 a year and couples making less than $50,000 a year – to a top rate of 25% for the wealthiest Americans, slashing the current 39.5% top rate, according to the Wall Street Journal, which received a preview of the campaign’s proposal Monday. Trump’s plan would also lower taxes on all businesses to just 15%, according to the Journal, slashing the 25% corporate tax rate and the tax rate many small businesses currently pay.
However, also according to the Journal, one of the biggest surprises of the real estate mogul’s future tax plan is the 50% tax rate he would impose on the Latin population living in the United States, predominantly those of Mexican origin, as well as all recent Mexican immigrants.
“I’ve though a lot about it and this seems like a fair trade-off to me,” the billionaire businessman stated in an interview with Newslo. “If they want to keep living in our beautiful land, they should pay the price for it. They already have their own schools, communities and everything that goes with that, and we even have Mexican children who are born in this country and still don’t speak English. Real Americans ought to be compensated for having to put up with that, and such a tax does the job perfectly.”
Asked whether such a high tax rate would likely cause rebellion and possibly riots all nationwide, Trump replied, “Possibly. But, like I said, if they want a slice of the American dream, they’re not only going to have to pay dearly for it, they are also going to have to pay for all the damage that the Mexican government has caused America in the last 40 years. You know, the sins of the father and all that.”
“I mean,” the magnate added, “all that drug money that Mexican drug cartels are pouring into America needs to find a good home. I think the national budget of our country is a pretty cozy place for it.”