GOP senator Susan Collins: Why I cannot support Trump
GOP senator Susan Collins: Why I cannot support Trump
By Glenn Kessler and Michelle Ye Hee Lee August 9 at 3:00 AM ³
In an effort to reset his troubled presidential campaign, Donald Trump gave a prepared speech to the Detroit Economic Club, an important venue for major economic addresses. Here's a guide to 16 of the more fact-challenged assertions made by the GOP nominee. As is our practice, we do not award Pinocchios in speech round-ups.
Hillary Clinton short circuited again, to use a now famous term when she accidentally told the truth and said she wanted to raise taxes on the middle class.
This is ridiculously false something that earned Trump a ԤPants on Fire from our friends at PolitiFact three days ago. It is appalling that it still turns up in a prepared speech.
On Aug. 4, Clinton gave a speech in which the prepared text had this line: We aren't going to raise taxes on the middle class. When Clinton delivered the speech, she dropped the and so to some ears it might have sounded like an are, especially on a videotape. (Reporters at the event heard aren't.)
PolitiFact asked a linguistic professor to run Clinton's remarks through a phonetics computer program. That effort confirmed that when she said aren't, she hit the but somehow missed the So it's rather strange Trump is still making this claim.
Our current tax code is so burdensome and so complex that we waste nine billion hours a year in tax code alliance.Ԭ
This is a relatively high estimate for a number that is difficult to measure with precision. The IRS's National Taxpayer Advocate in 2012 pegged the figure at about 6 billion hours. The number includes record-keeping and reading the tax rules, not just filling out tax forms. Whether the time is wasted is a matter of opinion; tax revenue of course helps fund the functions of government.
Clinton's plan would tax many small businesses by almost fifty percent.
Trump is referring to companies that file taxes under the individual income code rather than the corporate income tax code, which leads to shareholders being taxed twice (once on the corporation's earnings, and again on their personal income taxes).
Companies that pay individual income tax include smaller companies like partnerships, sole proprietorships and some limited liability companies. They comprise a range of companies, from self-employed people to law firms. (See more on this in our 2011 fact check.)
Trump adds up to nearly 50 percent by summing three current law individual income tax rates with Clinton's proposed 4 percent surcharge on income greater than $5 million, according to calculations by the Urban-Brookings Tax Policy Center and footnotes from the Trump campaign.
But the small businesses that would be affected by Clinton's proposed tax increases comprise a small share of taxpayers with these types of business income. According to the 2015 distribution of individual tax returns with business income from the Tax Policy Center, Trump's statement applies to less than 2 percent of individuals that report at least half of their income from business. About 90 percent of taxpayers with business income make under $200,000, and thus would not be affected by the individual tax increases under Clinton's plan. Clinton's small business plan includes a tax relief proposal for businesses with one to five employees.
READ MORE: https://www.washingtonpost.com/news/fact-c...
By Glenn Kessler and Michelle Ye Hee Lee August 9 at 3:00 AM ³
In an effort to reset his troubled presidential campaign, Donald Trump gave a prepared speech to the Detroit Economic Club, an important venue for major economic addresses. Here's a guide to 16 of the more fact-challenged assertions made by the GOP nominee. As is our practice, we do not award Pinocchios in speech round-ups.
Hillary Clinton short circuited again, to use a now famous term when she accidentally told the truth and said she wanted to raise taxes on the middle class.
This is ridiculously false something that earned Trump a ԤPants on Fire from our friends at PolitiFact three days ago. It is appalling that it still turns up in a prepared speech.
On Aug. 4, Clinton gave a speech in which the prepared text had this line: We aren't going to raise taxes on the middle class. When Clinton delivered the speech, she dropped the and so to some ears it might have sounded like an are, especially on a videotape. (Reporters at the event heard aren't.)
PolitiFact asked a linguistic professor to run Clinton's remarks through a phonetics computer program. That effort confirmed that when she said aren't, she hit the but somehow missed the So it's rather strange Trump is still making this claim.
Our current tax code is so burdensome and so complex that we waste nine billion hours a year in tax code alliance.Ԭ
This is a relatively high estimate for a number that is difficult to measure with precision. The IRS's National Taxpayer Advocate in 2012 pegged the figure at about 6 billion hours. The number includes record-keeping and reading the tax rules, not just filling out tax forms. Whether the time is wasted is a matter of opinion; tax revenue of course helps fund the functions of government.
Clinton's plan would tax many small businesses by almost fifty percent.
Trump is referring to companies that file taxes under the individual income code rather than the corporate income tax code, which leads to shareholders being taxed twice (once on the corporation's earnings, and again on their personal income taxes).
Companies that pay individual income tax include smaller companies like partnerships, sole proprietorships and some limited liability companies. They comprise a range of companies, from self-employed people to law firms. (See more on this in our 2011 fact check.)
Trump adds up to nearly 50 percent by summing three current law individual income tax rates with Clinton's proposed 4 percent surcharge on income greater than $5 million, according to calculations by the Urban-Brookings Tax Policy Center and footnotes from the Trump campaign.
But the small businesses that would be affected by Clinton's proposed tax increases comprise a small share of taxpayers with these types of business income. According to the 2015 distribution of individual tax returns with business income from the Tax Policy Center, Trump's statement applies to less than 2 percent of individuals that report at least half of their income from business. About 90 percent of taxpayers with business income make under $200,000, and thus would not be affected by the individual tax increases under Clinton's plan. Clinton's small business plan includes a tax relief proposal for businesses with one to five employees.
READ MORE: https://www.washingtonpost.com/news/fact-c...
My question is: "How will you pay for the intra-structure program with these tax cuts?"