Which Presidential Candidate Tax Plan Will Keep The Largest Number Of Tax Professionals Employed?
PLEASE COMMENT BELOW
Whenever a Presidential Election comes around everyone is talking about taxes and the IRS. With more than 3 Million tax professionals in the United States alone and business related to taxes in the hundreds of billions of dollars, it certainly would be nice to have tax professionals provide their perspective on the issue.
Here are the Presidential Candidates and their respective tax plans as we looked for them on their campaign sites. We ask all tax professionals to comment on one or any of the tax plans put forward by the 2016 Presidential candidates.
PLEASE COMMENT IN THE BOX BELOW. YOUR OPINION AND VIEWS ARE IMPORTANT!
TaxConnections is where to find leading tax experts and technology around the world. Discover tax professionals who offer you a wide range of tax expertise and be more informed about the technology that supports them in operating efficiently and successfully.
TaxConnections connects tax professionals with new tax clients and tax jobs around the world. Tax Professional Members establish higher visibility online so prospective clients and employers can find our members easily. Each members also receives a Virtual Tax Office which is the most valuable online real estate available today! TaxConnections makes a difference in your professional life.
We offer a Special Membership rate to tax professionals out of work.
https://www.taxconnections.com/special-membership
Kat Jennings, CEO
TaxConnections
858.999.0053
kat@taxconnections.com
7 comments on “Which Presidential Candidate Tax Plan Will Keep The Largest Number Of Tax Professionals Employed?”
Ted Cruz will not be able to “abolish” the IRS. Under both Trump & Clinton the complexity of tax will increase.
Ted Cruz tax plan is the best of the candidates for the country. It will spur economic growth. For fairness we must move to either a flat tax or the fair tax. Both will spur growth and both will allow massive reduction in the size and power of the IRS. The IRS is too big and too corrupt to be allowed to continue.
The democrat tax plan is status quo with increased tax rates.
Their plans will kill our economy.
Well. I was able to get directly to both Republican tax plans, the Democratic web-sights did not take me directly to the details, Clinton’s just wanted a donation right up front, and Sanders’ was hard to find. So if I can’t find them in five minutes of searching, they’ve lost me.
I am a small business owner, and happen to do accounting and tax work. So far, I prefer the Trump plan. I think a graduated tax structure is more fair. The Cruz plan is a joke, it won’t happen. I think we just need to simplify a bit and cut out all the loopholes and special deductions, etc. Lots a people try to abuse them. I despise the AMT and the earned income credit.
All of them will they want a reform but have no clue how this tax become such a giant task. This is the only money maker for the govt so a rewrite no just more crazy addons that will insure that as EA we are employed forever. Thank you Mr/MS President.
Trump and Cruz will add to the $250,000 in federal debt that already burdens each member of the Millenial generation, and will aggravate the concentration of wealth that is undermining our demand-constrained economy. The Sanders plan will result in accelerated loss of U.S. corporate headquarters, the last good jobs in America, as our companies are acquired. Hillary’s “plan” won’t do anything and we will continue our death spiral. We need Shared Economic Growth. http://digitalcommons.pace.edu/plr/vol35/iss3/4/ I hope Senate Finance comes through with the right thing.
Be cautious as to the words and the missing words and terms. For example, Ted Cruz says “abolish the IRS as we know it.” People should know a government has to have a tax collector and enforcer. He doesn’t say what the change will be but also offers misleading statements implying that the agency targets folks.
Cruz’s 10% tax, which he has also labeled as an income tax, appears to really be a consumption tax at least for businesses as they would expense their assets upon acquisition. Details would be good to know if he is pushing the famous Hall-Rabushka flat tax (which is a modified subtraction method VAT).
It is interesting that Cruz will keep the child credit and EITC along with a large exemption for low-income individuals. This is quite a contrast to the last presidential election where Governor Romney often lamented that 47% of individuals paid no income tax (while not noting that the average income of these folks is about $30,000 and many are already paying 15.3% payroll tax + excise taxes and state taxes).
Secretary Clinton (and the others) is also missing a few details. What will the education tax changes be? Her website says she would make the $2,500 American opportunity tax credit permanent. Well, that already happened with legislation enacted 12/18/15 (PL 114-113).
Clinton and Sanders both talk about some form of free college education? That’s quite an expense. Why not target that based on need and expand it to cover trade school (which should also help the economy).
We should ask for specifics of the tax proposals as it is difficult to adequately critique broad statements.
I’m Republican at this point–there was no link to Clinton or Sander’s tax plans–why not ???
Comments are closed.