Who benefits the most from Clinton and Trump’s tax plans?
According to results from the NCPA's modeling of the U.S. economy, conducted in partnership with Dr. David Tuerck and his team at the Beacon Hill Trump's plan would promote economic growth – but would reduce federal revenues by $7.4 trillion.
- Trump's tax plan will benefit all income groups, but the most benefits will accrue to the top half of income earners
- Summary of the impact of Trump’s tax plan
- Full analysis of Donald Trump’s tax plan
The bottom line on Trump’s tax plan: “As currently presented, the Trump tax proposals would reduce taxes on all taxpayers regardless of income level. This should increase efficiency and spur faster economic growth,” says NCPA Senior Fellow and Director of the Beacon Hill Institute Dr. David Tuerck.
Previous NCPA researchon Clinton’s plan found that while government jobs would increase, private sector jobs, personal income, GDP growth and business investment would all fall. Additionally, the revenue raised by Clinton’s plan would fall short of her planned spending projects:
- How Hillary’s tax plan will cost everybody – not just the rich
- Summary of the impact of Clinton’s tax plan
- Full analysis of the distributional effects of the Clinton tax proposals
- Full analysis of the economic effects of the Clinton tax proposal
The bottom line on Clinton’s tax plan: “Hillary’s plan is simply a continuation of the slow-growing Obama economy, except worse,” warns NCPA Senior Fellow Pam Villarreal.