Trump’s promise: tax reform is the first stage

Donald Trump has accepted yesterday the nomination of the Republican Party to run for the White House. The tycoon will therefore be the official candidate for the US presidential elections in November, waiting for the Democrats convention to indicate Hillary Clinton.

During the convention, several Republican supporters have heavily attacked the former First Lady, so much so that in Cleveland several signs among the delegates with slogans calling for "Lock her up," referring to the email-gate, the scandal of private email, who as Secretary of State has used between 2009 and 2013 for official purposes, endangering national security and on which the Justice Department declined to open an investigation against him.

Trump has been clear on tax, proposing "the largest tax cut among the candidates." He has stated that it wants to create jobs and prosperity for all Americans. His proposal calls for a reduction of tax rates on personal income tax, from the current seven to just three. Also the so-called "no tax area" would be high from the current 6,500 to $ 25,000 for single taxpayers and 12,600 to $ 50,000 for those who make the joint statement.

Most tax deductions would be eliminated, except for those on donations to charitable associations and interest on mortgages. Also it intends to also eliminate the property tax.

According to calculations by the Tax Policy Center, saving for the poorer classes would amount to 1% and while the middle class would save about $ 2,700 a year, equal to 4.9% of its after-tax income. The 1% of the richest taxpayers would pay an average of $ 275,000 in less than, equal to 17.5%.