Episode 176 - Clinton vs. Trump Tax Plan: Objective Analysis

In this week’s podcast of The Lange Money Hour: Where Smart Money Talks, we welcome to the show Roberton Williams, Sol Price Fellow at the Urban-Brookings Tax Policy Center at the Urban Institute, where he focuses on communicating the Tax Policy Center’s broad range of work through papers, blog posts on TaxVox, extensive interaction with the media, and a broad range of features on the website. With the presidential election less than three months away, Americans are preparing to choose between two very different candidates. In this episode Jim and Roberton take a look at what might be in store for Americans in terms of Hillary Clinton and Donald Trump’s economic policies. TOPICS COVERED:
1. Introduction of Roberton “Bob” Williams of the Tax Policy Center
2. No Ax to Grind: Tax Policy Center Provides Unbiased Information to Inform the Discussion
3. The Clinton Plan: Big Hikes on the Wealthy Would Raise $1 Trillion Over a Decade
4. Would the Wealthy Change Their Behavior to Avoid Paying Higher Tax Rates?
5. The Trump Plan: More Americans Would Pay No Income Tax; Deep Cuts for Wealthy
6. Trump Plan Would Slash Corporate Taxes, Add $9.5 Trillion to Deficit Over a Decade
7. More Clarity on Tax Plans Is Needed, Expected From Both Candidates
8. Trump Has Not Outlined Spending Cuts to Offset Severe Revenue Losses
9. With Huge Tax Cuts and No Spending Cuts, Government Would Have to Borrow More
10. Would Clinton’s Increases Curb Economic Growth? It Depends on Economic Opportunity
11. The Role of Congress: No President Can Unilaterally Dictate Tax Policy
12. We’re All in Agreement: Complicated U.S. Tax System Needs Reform
13. Where to Go to Learn More About How Taxes Affect You
14. Taxes Are Just a Small Factor in the Decision to Get Married
15. U.S. Is a ‘Relatively Low-Taxed Country Compared to Others’
16. Retirement of Baby Boomers Is Likely to Put Upward Pressure on Tax Rates
17. Alternative Ways to Raise Revenue: Federal Sales Tax and Value-Added Tax