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THE CANDIDATES ON TAXES Trump plan restores growth, boosts deficit; Clinton’s slows economy, trims deficit

Never in the history of presidential campaigns has there been such a contrast of candidates’ positions and styles as there is in this year’s race pitting Hillary Clinton against Donald Trump.

Never in the history of presidential campaigns has there been such a contrast of candidates’ positions and styles as there is in this year’s race pitting Hillary Clinton against Donald Trump.

While the coverage of each candidate’s numerous missteps has garnered the most attention, there is far less emphasis on the important issues that matter most to voters.

One big concern is taxes. While the ability to gain consensus in Washington on real tax-reform legislation seems like a fleeting notion, it is critical to gauge where each candidate stands on how he or she plans to grow the economy and create jobs.

In fact, the economy and jobs were the two most important election issues to voters, according to a recent Gallup Poll.

The Tax Foundation, a nonpartisan think tank in Washington, D.C., has scored both candidates’ tax proposals and determined how each plan would result in a net revenue increase or decrease using two separate calculations, static and dynamic scoring.

Static scoring assumes that tax changes don’t affect behavior of people and business owners and therefore have no impact on economic growth.

Dynamic scoring, on the other hand, assumes that tax changes influence the amount of savings and investment in the economy.

Key aspects of the Trump tax proposal:

Would increase the lowest individual tax rate from 0 percent to 12 percent and add two additional tax rates of 25 percent and 33 percent; a decrease from the existing top rate of 39.6 percent.

Would eliminate the net investment income tax surcharge of 3.8 percent.

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