Donald Trump, the real estate billionare and the president hopeful of the Republican Party, unveiled his plan in the course of his speech in Detroit. The Donald went to the economically depressed metropolis to concentrate on policies which are markedly different than Hillary Clinton, his rival from the Democratic Party.
In his speech to Detroit Economic Club, Trump told the audience that the United States competes with the world and he wants the US to win. The Republican highlighted the “disastrous” policies started by by the Obama administration. He alleged that such policies have led to the end of many jobs in the US during Obama’s eight year long administration. Trump told his audience- and prospective voters- that he wanted to jump-start America. He said that such an action is possible- and it will not be hard to do so.
Trump unveiled a number of policies he claimed are put in solely for revitalizing a stuttering economic engine. The list includes a drastic reduction of the corporate tax from the present 35 percent to the future 15 percent of he is elected to the presidency. This was formulated by Trump long way back- during the September of 2015 as a method to attract those American corporations which are relocated outside the country.
Trump also claimed that if elected, he would impose a tax of 10 percent on “trillions” of dollars which are parked by US companies in locations abroad and will get them back into United States. He assured a reduction in the personal tax as well, assuring that the seven tax brackets will be rightsized into only three. The peak income tax will come down from the present 39.6 percent to about 33 percent.
The billionare from New York said that he has the intention to significantly cut the existing business regulations. According to Trump, his move will lift the deadweight holding down most of the American businesses- a policy that Republicans have wanted for many years during the tenure of Obama. Asking for such a moratorium will help the real estate tycoon get crucial support from the small business owners. The latter allege that they had been subjected to over-regulation during the Obama presidency. The presidential candidate has also proposed the repeal of estate tax- a levy which attracted controbersy on estates previously owned by the deceased and valued at about $5.45 million.