Alex Thomas Salder
If you’re having a difficult time cutting through all the political clutter to figure out exactly how each presidential candidate’s policies would impact you and your life, a new tool may be able to help!
How would the Trump and Hillary tax plans affect your taxes?
Taxes are a hot topic during election season. And rightfully so, since tax policies can have a significant impact on the bank accounts of everyday Americans.
Each candidate is proposing very different solutions to taxes in America. According to the Tax Policy Center, Trump’s plan would cut taxes by $6.2 trillion over a decade, while Hillary’s plan would increase taxes by a net $1.4 trillion.
But how would each plan impact you?
To give Americans a better idea of how things could change come 2017, the Tax Foundation has released a tool that calculates how much money you may expect to lose or gain under the tax proposals outlined by both Donald Trump and Hillary Clinton.
Note from the Tax Foundation: The tax code is quite complicated and this calculator does not capture every element of the current code or the code under each proposal, but it still captures the elements of the tax code that most taxpayers deal with.
Click here to see our full analysis of Donald Trump’s tax plan.
Click here to see our full analysis of Hillary Clinton’s tax plan.