Understanding Donald Trump and Hillary Clinton’s Tax Plans

Understanding Donald Trump and Hillary Clinton’s Tax Plans


Good morning Hank, it’s Tuesday. So in Sunday’s US presidential debate, a voter asked: “What specific tax provisions will you change to ensure the wealthiest Americans pay their fair share in taxes?” The candidates’ answers were interesting, but limited. So today I thought I’d take a look at Hillary Clinton and Donald Trump’s tax plans. But to do that, we need to understand the current US tax system, which unfortunately is not uncomplicated. So let’s imagine three married couples with two children a piece. The Johnsons make the median household income of $52,000 per year. The Kennedys make $300,000 per year and the Roosevelts make a million dollars a year. Definition time. So your top marginal tax rate is the tax rate you pay on you last dollar of income. For the Kennedys that’s 33%. But that’s not actually the percentage of their income that goes to federal income taxes because no matter how much money you make your first $18,450 of income is taxed at 10%, the next 56ish thousand dollars is taxed at 15% and so on In the end, the Kennedys pay about $66,424 in federal income taxes under the current system that’s 22% of their income, that’s their effective tax rate. The Roosevelts, with their million dollars of income pay about $336,500 in federal taxes an effective tax rate of 33.6% or .7 if you want to round up. But God knows it can’t be that simple because usually families like the Kennedys and the Roosevelts pay less in taxes due to deductions. The U.S tax code allows you to deduct certain expenses from your income like charitable donations, some retirement savings and mortgage interest and you could either itemize your deductions by listing them or take the so called standard deduction which is available to all taxpayers for married couples filing jointly, it’s currently $12,600 Ok, I know this is a little bit complicated
but stay with me lastly we have the Johnsons, with their income of $52,000 a year the Johnson’s can expect to pay $553 in federal income tax an effective tax rate of just over 1% Wait, what? Right, so first the Johnsons take the standard deduction of $12,400 ($12,600) which brings their taxable income down to $39,600 (39,400) you also take a $4,050 personal exemption for yourself, your spouse and your two kids. Thats $16,200 which brings the family’s taxable income down to $23,200 they would pay about $2,553 of taxes on that income EXCEPT, for child tax credits there is 1,000 dollar tax credit for each dependent child you have so thats how the Johnsons get down to $553 and I think this is really important to understand because it underscores that for the half of American families making less than $52,000 a year federal income taxes are quite low in fact, a large majority of those households pay no federal income tax at all they do pay lots of other taxes though like payroll taxes, which neither candidate is proposing to change and sales and property taxes which are local and therefore not under the purview of the president but its really critical to remember that federal income tax policy can only do so much Ok, so we’re going to look at both these proposals mostly using analysis from the Tax Foundation, which, for the record, is non-partisan but usually considered conservative leaning let’s start with Hillary Clinton’s tax plan, which she described like this “Nobody who makes less than $250,000 a year, and that’s the vast majority of Americans as you know” “will have their taxes raised” “because I think we’ve got to go where the money is” and thats accurate Clinton’s plan mostly leaves the tax code unchanged with four main differences First, income over 5 million dollars per year which is currently taxed at 39.6% would be taxed at 43.6% there’s a lower tax rate on capital gains which is like sale of appreciated stock or of a business and on capital gains over 5 million dollars, Clinton’s tax plan would also increase that rate 4 % from 20 to 24 % Secondly households with over a million dollars in income would have to pay at least a 30% effective tax rate so basically they couldn’t use deductions to get under a 30% tax rate Third carried interest would be taxed like regular income this is a little bit complicated but basically carried interest allows many investment bankers to claim most of their income as capital gains rather than as ordinary income which means they pay lower tax rate this would close this so called loophole and lastly Clinton’s plan would double the child tax credit and also introduce a new $1,200 tax credit for caregivers so if you’re taking care of an elderly or disabled family member that credit would be available to you there would also be some changes to the estate tax and some corporate taxes would change in an attempt to keep U.S companies from shielding their income from U.S taxes so under the Clinton tax proposal neither the Kennedys nor the Roosevelts would see their taxes change unless the Roosevelts are claiming hundreds of thousands of dollars in deductions in which case their taxes might go up slightly the Johnson’s however would see their federal income tax rate go from $553 a year to 0 because of the increase in the child tax credit so just to be clear, at the debate when Donald Trump said “She is raising everybody’s taxes massively” that’s just not true for the vast majority of Americans but there is a cost to tax increases even when they’re only focused on the rich they discourage investment and business spending like the Tax Foundation says that the Clinton plan would reduce overall U.S economic output by 1% over the long term other projections have it much lower but regardless it would have some effect it would also of course create new government revenue which would be used to pay for subsidized college, infrastructure projects and paid family leave most non-partisan analyses conclude that after accounting for all of this the Clinton tax and budget proposal would add about $200 billion to the U.S debt over the next 10 years Ok, lets talk about Donald Trump’s new tax plan which is quite different from the one he released in June and which I talked about here at the debate he said “We’re cutting taxes for the middle class” “and I will tell you we are cutting them big league for the middle class” so Trump’s plan features three marginal tax brackets for married couples filing jointly income up to $75,000 dollars a year would be taxed at 12% from there up to $225,000 would be taxed at 25% and above $225,000 would be taxed at 33% he would also cap deductibles for married couples at $200,000 a year he would make child care expenses deductible up to the average cost of childcare in your state increase the standard deduction from $12,600 per year for married couples filing jointly to $30,000 a year and he would get rid of personal exemptions as you’ll recall, those personal exemptions allow you to take $4,050 off your income for each member of your family eliminating them, even with the increase in the standard deduction would mean that for many families with single parents of with more than three children making between 60-100,000 dollars a year taxes would actually go up somewhat under Trump’s plan this would be the case for about 7.8 million households but for the rest of us our federal income taxes would stay about the same or go down under Trump’s plan like if we look at our three hypothetical families the Johnsons would see their federal income taxes go from $553 a year to $400 the Kennedys, making $300,000 a year, would pay about $46,350 in taxes a reduction of about $20,000 from the current system and the Roosevelt’s would pay about $287,250 as you can see the tax cuts are heavily concentrated on the wealthiest individuals who pay the most income tax Trump’s plan would also decrease the corporate tax rate from 35% to 15% and like Clinton’s plan it would seek to get back some of the profits that are offshore from U.S companies and it would close the carried interest loophole in total, before accounting for macroeconomic effects Trump’s plan would lower revenue somewhere between 4.4 and 7.2 trillion dollars over the next 10 years depending on who’s doing the math but, just as higher taxes can discourage investment lower taxes can encourage it and the Tax Foundation does project that Trump’s plan would lead to growth but no matter what you’ve heard that does not mean that tax cuts pay for themselves They don’t for instance both the Reagan and the Bush tax cuts boosted growth but they lowered federal revenues the Tax Foundation, which remember, is conservative leaning says that even after growth is accounted for, federal revenues will decrease under Trump’s plan between 2.6 and 3.9 trillion dollars now Trump has proposed to pay for some of the shortfall, around 1 trillion dollars over 10 years via budget cuts but he also wants to spend 500 billion dollars more on the military over the next 10 years so even the rosiest projections have Trump’s total budget and tax plan adding about 2 trillion dollars to the national debt over the next 10 years that’s 10 times greater than under Clinton’s plan and other projections like those made by the Tax Policy Center have that number at 7.2 trillion dollars 36 times greater than Clinton’s plan I want to pause for a second to discuss why this could be such a huge problem so currently the U.S.’s debt held by the public is about 77% of our total annual economic output that’s high but its not so high that people are worried about our ability to pay it back we know that because interest rates on Treasury bills are near 0 it’s basically seen as a guarantee that the United Sates will pay its debt but if our publicly held debt to GDP ratio gets higher traditionally when it gets to 100% or 110%, that might change lenders might start to get nervous and think maybe the U.S can’t pay its debts which would make loans to the United States government riskier which would make them more expensive interest rates would go up to pay for the more expensive loans the government would have to increase taxes or decrease spending which would inhibit growth, which would lead to lower tax revenues that would necessitate taking out more loans with higher and higher interest rates which would leave less money for programs like Social Security and unemployment insurance which would further inhibit growth, which would lower government revenues and pretty soon Greece this is called a debt spiral and it is a catastrophe that once it starts is very difficult to stop it often takes decades to unwind now the chances of a debt spiral in the United States are very low no matter who becomes president but the Non-Partisan Committee for a Responsible Federal Budget has the 10-year debt from Trump’s tax plan rising to 105% of GDP and that is a very scary level now I want to emphasize that there are serious and thoughtful republican tax and budget plans out there but to cut taxes by the amount that Trump is proposing it is necessary to cut either popular entitlement programs like Medicare or else to cut defense spending dramatically Serious republican budget proposals do one or both and Trump’s does neither so in summary Donald Trump’s tax plan would cut income taxes for most Americans with the majority of the benefits going to the wealthiest households and small increases on taxes for some middle class families Hillary Clinton’s tax proposals would cut income taxes for middle class families with children the rest of us probably wouldn’t see much change but the wealthiest American households would have their taxes go up if you’d like much more information there are links to non-partisan analyses in the dooblydoo below I’ll also try to be in comments to answer any of your questions and if you aren’t yet registered to vote, or aren’t sure if you are registered please go to youtube.com/howtovoteineverystate and find your state in many states the registration deadline is today so register. Please vote! Hank, DFTBA. I will see you on Friday.

100 Comments

  1. TOYA MCNAIR says:

    We are in so much trouble. ?

  2. Andy says:

    donald trumps win, there is a fiscal cliff and national debt bomb. Hilary Clinton wins , there is a fiscal cliff and national debt bomb.

  3. Andy says:

    if the GDP of a nation decreases over a period of time , in what ways will this happens.

  4. Monique Rowe says:

    You John Green are that teacher who can take any difficult subject or complicated things and easily explain it to anybody at any age. From 5 years old to people who are well into their 60s. But this was still really hard to grasp, I got lost in areas and couldn't keep up.

    Thanks for taking the time to break it down and trying to explain in laymens terms.

  5. Admiral kabman says:

    The numbers just don't add up.

  6. xuyahfish says:

    I think the issue is that "income tax" includes what you earn as your "income" and does not include income from stocks – even though the 1 %'s treat it as their main source of income. If you don't think this is an issue b/c the top 1% is small, consider that the top 1% OWNS over 1/3 of the world

  7. Aiden G says:

    Sooo cut taxes, increase military spending, possibly get us in a few wars. Sounds like a great idea to me! We can just blame all of our problems on the next president if this one fails anyway.

  8. Corona light says:

    Great video

  9. Jawnboi says:

    How about a flat federal tax. That's all. Simple.

  10. chris roland says:

    SIR NICE EXPLAINING SINCE I DONT LIVE IN USA BUT 50 PERCENT RECURRENT OV EXPENDITURE GOES ON WELDARE THIS WUD CHANGE AS JOB CREATION WUD CUT WELFARE BY AT HALF BEFORE HE LEAVES DRIVNG DAT MONEY AS GOV REVENUE BUILDING HOME S AND INFRASTRUCTURE WUD CREATE JOB SPENDING WUD INCREASE WITH MORE SPENDING MORE TAXES CONSUMER TAXES REVENNURE WUD GO UP.FOREIGN RESERVE WUD INCREASE SINCE EXPORTS WUD INCREASE SO THE DOLLARS VVALUE WUD RISE AS THE NATIONAL DEBT FALLSS .WENEED TO BE ONA BUDGET SURPLUS DIRECTION .HILARRY PLA N ISMORE OF SAFETY TO REDUCE THE DEBT TRUMPS SI MORE OF RISK TAKER WHICH ASSURANCE TO DREAM BIG SO AMERICA CAN FLUY I PREFER TWO TRILLION IN DEBT AND AGROWING ECEONOMY IN GDP THAN 220 BILLION IN DEBT AND POVERTY INCREASED WELFARE BECAUS EIN TEN YRS THE NATIONAL V[DEBT MUST INCREASE ABOVE 200 BILLION UNDER CLINOTN SINCE SHE WUD HAVE MORE UNEMPLOYMENT DUE TO POPULATION INCREASE ADN LESS FACOTIRES AS MORE WUD LEAVE VIA TTP DEAL ..SO AMERICANS SHUD PAY LESS SPEND MORE IN INVESTING IN BUSINESSS AND TRUMP SHUD DEREGULATE THINGS SO BUSINESS CAN RISE ,OBAMA CARE REMOVAL WUD SAVE GOV MORE MONEY AS WELL .THANK YOU .FISCAL POLICY FACTOR IS THE MSSING LINK IN AMERICA TODAY NOT MONETARY POLICY .

  11. Ash Beard says:

     We should ignore what Donald Trump says about taxation because he won't be hurt by the increase

  12. pop punk isnt dead says:

    watching this after the election to see what's in store…this is terrifying

  13. Bopsterjazz says:

    The world is on fire.

  14. Freedonia says:

    The US govt can never go broke whilst its debt is denominated in US dollars. NEVER. It is actually an impossibility.
    GREECE IS NOT THE UNITED STATES. Greece is not sovereign in its own currency. It has to borrow or raise euros and it CAN run out. And did. Greece is like a US State which has to get dollars from somewhere.

    A govt with a sovereign currency doesn't tax to raise revenue, it taxes to regulate aggregate demand. In other words lower taxes promote spending, higher taxes inhibit spending. Inflation control basically.
    People are beginning to understand this at last.
    read this as an example: http://www.forbes.com/forbes/welcome/?toURL=http://www.forbes.com/sites/pascalemmanuelgobry/2012/10/19/no-the-united-states-will-not-go-into-a-debt-crisis-not-now-not-ever/

  15. Freedonia says:

    Focus on jobs not the national debt. The more jobs the more disposable income, the more disposable income the more companies invest in more jobs as their balance sheets grow, the more their balance sheets grow the less the govt has to defecit spend.

  16. rageface memeaholic says:

    The American tax system is grossly unfair. Can we go back to the flat 10% on everyone who makes money?

  17. Matthew Hudson says:

    Can anyone point me to a source showing the corporate tax rate at 15%, I believe John mentioned this in the video

  18. My Nam says:

    the fact that the Johnsons pay literally ZERO tax shows the flaws in the current system.

  19. Nate M says:

    INCOME TAX IS ILLEGAL

  20. unicorn harry says:

    Ordinary income rate "Democrat todays income rate DNC rate" not republican rate.

  21. Rachel Stallen says:

    the 1k who disliked just salty that they know what you're saying is true.

  22. TheWolfHowling says:

    And let's know forget that Trump will be spends 30 million on a useless southern border wall, no fence

  23. SIRA063 says:

    projections… another name for polls.

  24. Alex Cuellar says:

    trumps tax plan is Reaganomics just also has a middle and lower class tax cut which is EVEN worse

  25. theproperenglishman says:

    Clinton's plan is so logical. Trump's plan is so utterly idiotic. I don't understand what people were thinking.

  26. Sangjie says:

    Trump and Hillary sitting in a plan
    Trump : Should I throw out one 100$ to make people happy?
    Hillary : Should I throw out ten 100$ to make people happy?
    The Pilot : Should I throw you two out to make 300 million people happy?

  27. otakurocklee says:

    Hi. Thanks for the great video. Can you talk about the self-employment tax under Trump's plan? I can't find any definite information about this. Right now, self-employed pay income tax+15.3% self employment tax. How will this change under trump's plan? I see some places say that they'll pay a straight-one-time 15%. Is this true?

  28. Jesse Lee Ward says:

    it's funny cause they are both tax evaders

  29. robertthekingful says:

    thank god i voted 4 trump

  30. Akumu74 says:

    Seeing this after the election makes me sad.

  31. Seif Deiab says:

    Bigly

  32. kemicalromanc15 says:

    Omg. Really good break down but damn you talk super fast. LOL.

  33. Tyler Klay says:

    Explain the 9 trillion dollars in debt President Obama accumulated during his presidency alone? During his Presidency he has accumulated the most debt more than any president before him combined.

  34. Clumsy Dad says:

    no point in studying lies

  35. endymion says:

    trying to not panic post election….

  36. happyninslave says:

    I've paid less in taxes since my love trump

  37. happyninslave says:

    trump saved me 15k

  38. happyninslave says:

    obaMAcare screws us all

  39. happyninslave says:

    F'k u h-BEAST

  40. happyninslave says:

    So DTrump is right.

  41. frankjohnson123 says:

    You account for "growth" due to investments, but this is far from the only type of growth we'd see with lower (mostly corporate) taxes. The creation of new businesses and business expansions would also increase under such a system, also increasing employment. Likewise, you might see outsourcing or business reductions with higher taxes. Neither of these are accounted for with investment growth.

  42. Wen Night says:

    my middle name is Hillary and a candidates name is Hillary why not support all Hillary's bu helping a friend of said person here: https://www.gofundme.com/fundwenell
    Yes this is shameless advertising

  43. Reality Films says:

    Quality write up. Its a shame it did not get more penetration. You did your best and I respect you for that. But we are losing this war both on Youtube and in politics. We need a new class of leaders to fight the madness before its too late.

  44. stangsaleens7 says:

    2 trillion over 10 years,? 2 trillion, that's the straw that breaks the camels back? Bush's 5 trillion and Obama's 10 trillion in 8 years were ok?

  45. Avnglyn Jones says:

    I have a problem paying taxes to a corrupt government that squanders our money away to foreign governments driving our national debt through the roof with unrelenting spending and ponzi schemes like 2008 crash was caused by. Screw the fed and screw the IRS. our government has started extorting money from it's citizens. It's a giant scam. O don't have a problem paying a functioning government tax to take care of the country but our country isn't doing that anymore. and their doing nothing to solve all these major problems.

  46. amoralphat40oz2 says:

    Wrong.

  47. Peace Lemon says:

    Pseudoscience.

  48. Bill Anthony says:

    Trump: decreases tax which allows for greater international investment that creates jobs for Americans and a stronger economy. Hillary: increases tax which sends more business off-shore (why would they stay if they can get a better deal?), taking with them jobs and money.
    Im sorry but Liberals just don't get it! Generally speaking, money is better in the hands of business than government because successful businesses usually invest smartly. Government on the other hand waste money like no tomorrow!
    Lowering tax means making America super competitive on the global market again. Businesses are incentivised to be in America. The more businesses there are the more money and jobs there will be. It's really that simple. Prediction: You will see jobs flood into America as a result of this policy change within the next 4 years, I will bet everything I have on it!

  49. Tasman Chapman says:

    Well this video is depressing to watch now 😐

  50. jack davis says:

    why your hair so spikey

  51. Johnny Li says:

    Do a follow-up video! (huge fan)

  52. THOR 3599 says:

    It seems that most people who project the 105% of GDP (increase) don't consider that Trump is planning on charging other countries who trade with the U.S. to make up for (at least) part of the tax cuts and his proposed future spending.

    How will taxing other countries, and U.S. businesses with factories abroad, who export their products to the U.S. affect your analysis of Trump's tax plan?

  53. Dallin Webber says:

    Why do you have to constantly say the Tax foundation is conservative leaving when in other videos with liberal organizations you call them "nonpartisan"

  54. Donald J. Trump says:

    I'm pretty sure that $2 trillion dollars to our debt in the next 10 years is way better than what Obama added. $9.8 trillion added to the national debt during the Obama administration.

  55. Michael DiMarco says:

    Mr. Green, Mr. Green! I'm not too savvy with numbers, but I just had a thought and want to consider opportunities and obstacles. What if there existed two different tax plans, both designed by the government, but citizens chose which one they wanted to pay towards. For example, The current tax plan and the proposed tax plan would exist simultaneously. They would both fund the same programs but at different percentages. So, you'd still owe the same amount under both plans (creating some coherency) , but the plans would divvy the money differently (creating some choice). One might fund 50% Military versus the other at 30% Military. I can see that prohibiting budget planning to some degree, but I feel like a dual tax plan would allow the citizens to participate in the budget more actively. Would this be possible? Do you have any thoughts?

  56. Kaizer Kempfer says:

    If a titan country goes berserk there is no one to stop them.

  57. piousness says:

    and now he's president

  58. Oliver Clegg says:

    I had never realised how stupidly low US taxes are!

  59. BenJamin Croft says:

    Someone should of asked them, is there any empirical evidence to prove, beyond any reasonable doubt, that the constitution and IRS tax laws apply to us and that they have any jurisdiction, therefore making us "tax payers" with "taxable income" in the first place???

  60. budiman 31 says:

    Sorry US is already broke one way to another 20 Trillion is government debt not private

  61. felix Marseille says:

    In the Netherlands the highest tax rate is for every euro over 52000 is around 52 percent

  62. CKCLUTCH says:

    LET'S GO TRUMP! MASSIVE TAX CUTS!

  63. nelsonisamazin says:

    Watching this to remind myself how totally awesome and fun our future is. Yay for enormous debt! 😀

  64. Red Panda 1138 says:

    we are so screwed

  65. Johnny Bates says:

    Awesome.

  66. Norman Cockwell says:

    The economy grew under Reagan but it is a tenuous claim to say it was because of the tax cuts. There were many other macroeconomic things going on at the time, not the least of which I large increase in women working. The is not much evidence that decreasing taxes in and of itself increases the economy. I now you have to be simplistic for the sake of time, but I would like to reiterate that Trump's plan would result in a drastic crash in the economy according to any models that we see in the real world.

  67. john doe says:

    The tax revenueweoulod be paid for wars.dont lie :v

  68. john doe says:

    Since america I so corrupt its good to lower tax revenues as much as possible! :v

  69. Sherayzen Law Office, Ltd - FATCA Lawyers says:

    Hey there! I am a beginning videobloger) Could you please follow me and watch my video))) Thank you for attention!

  70. dakillaklown715 says:

    Do an intro to the fair tax act.

  71. Scott Wilson says:

    THIS IS ACTUALLY A MISLEADING AND TERRIBLE ANALYSIS OF HER AWFUL PLAN. THANK GOD she didn't elected because her plan would slaughter economic growth. CONSUMER SPENDING is the biggest component of the economy. INCREASE TAXES= Reduction in consumer (people) spending. DECREASE TAXES= Increase in consumer (people) spending
    DECREASE TAXES= INCREASE in consumer spending. CLINTON SUPPORTERS don't realize how important GDP is to the economy. In simple terms, if the human body is the economy, GDP is the heart that oxygenates the body. GDP GROWTH RATE is probably the single best indicator of economic growth. HER PLAN would reduce the growth domestic product growth every year for the next decade, and MOST IMPORTANTLY would reduce the growth domestic product growth every year for the next decade. CLINTON SUPPORTERS SAID TRUMP JACKS THE NATIONAL DEBT UP; which is carefully worded mumbo jumbo (I.E. HORSE CRAP) and which many people are grossly mislead to believe. Debt is actually a good and necessary requirement that enables goods and services to be bought by Americans (like a car/house/etc). Any American who has a credit card is a supporter of personal debt (even a person who diligently pays off his/her credit card each month) If debt was not allowed, 1 of 2 things would happen–> 1. the upper 5% would be the only ones able to afford houses or 2. the housing industry would have to dramatically lower rates to a level that would collapse the housing market (i.e. builders, manufacturers, etc out of jobs due to not enough pay to match the work)

  72. Baird175 says:

    So I have a question….. now that Donald Trump IS the president, where are the tax cuts he promised? The Republican healthcare plan is officially dead already, he still hasn't built the wall bordering Mexico (which they have said time and time again that they won't pay for, and at this rate won't be finished until the end of his first term), the federal debt continues to climb exponentially every day, and he still hasn't brought back the jobs that China has allegedly stole from American workers. Has his budget not passed yet, or is that already dead in the water too?

  73. Scrotchy McDumpwaffle says:

    As far as income taxes go, you are 100% correct in everything you said. However, wealthier individuals typically have a large portion (if not all or the majority) of their income coming from dividends in the stock market or use corporate funding to pay for whatever they need.
    For the knowledge of those here, if you receive a dividend from a qualified company, the MOST you can be taxed on it is 20% with the average american falling somewhere between 10% and 15% (referred to as "capital gains tax"). And since this is still considered taxable income, that means that all of those same deductions can apply (such as owning a home, being married with children etc.). This is the stuff you're going to have to get the politicians to talk about if you want real change and getting the rich to pay well…anything.
    P.S. sorry I am like…a year late.

  74. shashank dave says:

    And here we are after so many people like John Green argued that Trump's any plan is not as good as Clinton's. America..what have you done!

  75. Anita Mihalik says:

    You need to study more dude.

  76. No One says:

    The truth of the matter is, it's to pay off the lobbyists for their campaign money and votes, since the wealthy launder their money without ever paying taxes. Out of Trump's mouth when asked why he hasn't paid taxes in 25 years, "because any good businessman doesn't pay taxes!" I know it's true, in my state they pay an accountant a set price to release them from any taxes; therefore this bill in December 2017 never had anything to do with taxes. It's a way to steal money for his wall, purge the middle class and poor people out of the health system. Just like the past 5 most powerful empires on earth, America is about to fall! ?
    Get on the Russian bandwagon people, Putin has it all over Trump in every way possible! No contest, the man posing as a potus is going down. I've got a wedding to tend in India, then a business deal in China where Putin is loved ?? Even the Norwegians are rooting for Putin, the Arabs, etc…
    ?Trump is, alone again naturally?

  77. No One says:

    Trump followers can't comprehend this, it's too complicated for them!
    Don't you have Trump's plan handy, taxes for dummies?

  78. Rolando Marín Hdez says:

    Mr. Green?!?!?

  79. Wanda Meadows says:

    Really Fake News

  80. A one legged man says:

    what do they mean 'fair share'?

  81. Brady Akers says:

    Now that the new tax plan has passed, can you do a video on Understanding Donald Trump's Tax Cut? I would love to learn more about the impact of it on people, companies, etc. over time. Thanks!

  82. Jon dow says:

    https://www.youtube.com/watch?v=ZFOuxAx-dkc

  83. Brandon Johnson says:

    Hillary Clinton is a liar and a cheat so now Obama plans for Hillary to spend my money don't think she is honest at all and my money should stay with me fix the roads then we'll talk.

  84. Jacob Thorne says:

    This guy is so left it’s ridiculous how biased he is to the republicans

  85. Vanities says:

    97% of taxes are paid by the top 50% of income earners.

  86. Blondie Wise says:

    “Bigly”

  87. Blondie Wise says:

    I vote Samuel L Jackson.

  88. KGT UserCast says:

    TL;DW : Low income group, no changes. Low to middle income, slight decrease. Middle income (80K), slight decrease. Middle high income, no changes. High income, slight increase.Go home. 😀

  89. The Official Bobthemagnif Channel says:

    Can we just stop paying for the military and make that a fucking milita like it was intended to be in the first place. It’s not like the population would have a shortage of arms and training

  90. Damian Matras says:

    I love the idea of THE DEBT SPIRAL. Let's have an apocalypse, it will be healthy for the economy, trust me.

  91. Moe Gunz says:

    Super ironic I watch this video, the same day u.s treasury say trump add exact 2trillion in 2year to the national debt. You should re upload this video

  92. Scott 0str says:

    This video needs a 2019 follow-up response video

  93. Yoda says:

    Taxation is theft

  94. Preston Marlo says:

    Why not just eliminate income tax and implement a 10% sales tax instead? No write-offs, getaways, or complications.

  95. Preston Marlo says:

    7:22 No one is arguing that tax cuts will lead to more tax revenue, that's a misrepresentation of supply-side economics. You're ignoring what can be achieved during the time of the tax cuts and the work that the money can do in the economy.

    For example: in 1921, if you made over $100,000 annually, you were taxed at 71%. During that year, the government generated a total of 700 million dollars from income tax revenue. Of that money, 30% came from the $100,000+ tax bracket.

    In 1929, when taxes for those making over $100,000 annually was 27%, the government collected over 1 billion dollars from income tax. Of that money, 65% came from the $100,000+ tax bracket.

  96. Trevor Bourgeois says:

    TAXES = THIEVES IF YOU DEPEND ON THE GOVERNMENT TO TAKE CARE OF WHAT NEEDS TO BE TAKING CARE OF. INSTEAD OF PLANNING VACATIONS AT THE BAHAMAS. ANSWER IF IT WAS TAKING CARE OF THEN WE WOULDN'T HAVE THIS TRILLION DOLLAR DEFICIT WHO'S NOT PAYING THEIR TAXES.???

  97. Kiki Lang says:

    Thanks. I don't think enough people watched this. I make less than the Johnsons, and paid way more in takes. I don't have children, and I'm not married. It's like they punish you for not having children you can't afford.

  98. Eddie Owen says:

    I'm just hear to ask, pretty please, do this again next October before election. Love you videos. Still show people your 7 year old video about the national debt.

  99. Jason Lurf says:

    Donald Trump is like a bratty toddler demanding to steer the Titanic, captain saying no, and Fred Trump saying, "Do it. You don't know who I know".

  100. Carlos Marcus says:

    We millennials will probably never own a house. So nuts to the whole mortgage interest deduction!

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