"We have an amazing code"
by digby
Trump's not going to let Fiorina get away with stealing his thunder. You want lies? He's got YUUUGE lies:
Under a President Donald Trump, some Americans will pay no income tax and the corporate income tax will fall to 15 percent, while the Treasury Department will maintain or even increase current revenue.
And while Trump emphasized the hit the rich would take under his tax plan unveiled Monday, he pairs the closing of loopholes and deductions with such a large rate reduction that it would likely add up to a substantial tax cut for many of the well-to-do.
The tax plan "is going to cost me a fortune," the billionaire candidate told a gathering of reporters at Trump Tower on Monday morning.
“We have an amazing code. It will be simple, it will be easy, it will be fair," he explained.
And it has the endorsement of Grover Norquist.
"Trump's plan is certainly consistent with the Taxpayer Protection Pledge," said Norquist, the president of Americans for Tax Reform, in an emailed statement. "Trump has said he opposes net tax hikes and has made clear that the real problem is spending. This plan is a reform, not a tax hike."
Norquist's pledge requires candidates to oppose all efforts to raise marginal tax rates for individuals or businesses. In an interview with Time magazine last month, however, Trump said that he was skeptical of signing Norquist's pledge because "I may want to switch taxes around." He added that the overall effect would not result in a net increase.
I think it's fair to say that if Norquist endorses it, it's not a tax hike.
At this point I think it's fair to say that Fiorina and Trump are the frontrunners for president --- of Bizarroworld.
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