The campaign trail has been replete with bold proposals to change the U.S. tax system, and the nonpartisan Tax Policy Center, has a brief look at where they stand;.
Donald Trump, Jeb Bush, Marco Rubio, Chris Christie and John Kasich have all proposed dropping the number of tax brackets. Each plans to lower the top income tax rate– Rubio at the top with 35 percent and Trump at the bottom with 25 percent.
Ben Carson, Ted Cruz and Rand Paul have each proposed flat taxes – Carson and Paul around 15 percent, Cruz at 10. Carly Fiorina has supported a 19-percent flat tax in the past.
Democrat Hillary Clinton would keep the bracket system but wants to implement a 30-percent rate for those earning over $1 million annually – the so-called Buffett Rule, which President Obama proposed back in 2011.
Bernie Sanders would raise the top tax rate above 50 percent, but he hasn’t given a firm number yet.
Martin O’Malley has not released a formal plan, but
would similarly raise the top rate.
