POLITICS FOR KIDS:Understanding the Issues Where do the candidates stand on the issues?

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Election 2016: Taxes

Find out where the candidates stand on taxes

Do you ever wonder how the government pays for the services it provides? One major way is with taxes. Taxes are money the government collects from citizens to cover the costs of running the country—from fixing roads to funding schools to keeping people safe. Taxes come in many forms, and the U.S.’s tax laws are very complicated. Taxes are also a big issue for voters. The candidates have shared their plans for how to make sure people pay their share of taxes, and how to spend that money fairly and effectively. Their plans are very different, but both are focused on balancing the needs of individual taxpayers with the greater good of the nation.

Hillary Clinton: The Democratic candidate believes in making sure that the wealthiest Americans contribute to the national good by paying their fair share of taxes. She wants to stop very rich individuals and large companies from avoiding fair taxation by closing loopholes in tax laws. Loopholes are mistakes in the way laws are written that allow people to avoid obeying them. By collecting higher taxes from rich individuals and companies, Clinton believes the U.S. will have enough money to invest in programs to help less privileged people. Here are some of her tax proposals:

• Add a “fair-share surcharge” for taxpayers who earn more than $5 million per year. This 4% charge would be applied on top of the taxes that wealthy individuals already pay on their earnings. It is meant to make sure that rich people contribute fairly.

• Call for a “Buffett Rule”—named for billionaire investor Warren Buffett—that ensures wealthy people are never paying less in taxes than poor and middle-income people. The rule would say that people making $1 million or more per year had to pay a minimum tax rate of 30%.

• Help middle-class Americans by providing tax relief for those facing financial hardships, such as high health-care costs or expenses related to taking care of children or elderly relatives.

• Change the Estate Tax to make sure people who inherit large amounts of money pay a fair amount in taxes on that inheritance.

Donald Trump: The Republican nominee thinks lower taxes, especially for businesses, will drive economic growth and help all Americans. He wants to simplify U.S. tax laws and eliminate some types of taxes altogether. He also plans to allow middle-income people to take higher tax deductions, lowering the amount they pay. Here are some of his tax plans:

• Raise deduction limits for taxpayers. A tax deduction is an amount of money people are allowed to subtract from their tax bill. People can deduct things like education expenses, donations to charity, and money spent on a business. Trump’s plan would allow people to subtract more from their taxes and lower their overall bill.

• Get rid of the Estate Tax (which Trump and many other conservatives refer to as the Death Tax).

• Establish special tax deductions just for expenses related to childcare. This would let some parents subtract money spent on childcare services from their tax bill.

• Lower the business tax rate from 35% to 15%.

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Comment:

After looking at all the information of both candidates  there is clearly only one choice and that would be Donald Trump for president. In our seventh grade class we are having a mock presidential  election and I am voting for Mr. Trump.

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