Presidential candidates promise many things when they are running for the office of President of the United States, but this one has caught the attention of millions, especially low-income Americans. Presidential Republican nominee Donald Trump recently stated that if he were elected President, "Low-income Americans will not pay taxes at all."
Trump's campaign promise
At a speech given recently at the Waldorf Astoria Hotel in Midtown Manhattan, New York, Donald Trump stated that millions of jobs for Americans could be created by "lowering rates, streamlining deductions and simplifying the process." He made it perfectly clear what he was talking about when he said "our plan will remove millions and millions of workers from the income tax rolls entirely.”
Trump's promised is based on the premise that "people flourish under a minimum government burden.” Eliminating taxes for low-income Americans will help grow the economy, according to Trump. However, others aren't so convinced.
But some don't agree
Others, like British forecasting firm Oxford Economics, think Trump's idea will, instead, cost the U.S. a trillion dollars and millions of jobs. The Democratic National Committee thinks his plan is the same type of policy that led to the economic crisis in the first place.
Either way, it is certainly a tempting campaign promise for all low-income Americans and would be a huge relief for the poor.
