While experimentation TPC’s cool election tax calculator, ns was surprised to view that part high-income singles might pay much more income counting under Donald Trump’s plan than under Hillary Clinton’s. In general, trump would cut taxes considerably while Clinton would certainly raise taxes because that those with very high income while targeting middle-income taxation cuts to family members with young children. Yet the single, childless human with $129,000 or $420,000 in income—the top 1 or 0.1 percent , respectively, for singles—would salary a couple hundred bucks more under Trump’s setup than under Clinton’s or under existing law.

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There are two reasons. First, Trump’s 33 percent top rate kicks in in ~ a relatively low revenue level for singles—$127,500 in 2017 because that someone with itemized deductions equal to 10 percent that AGI. Some civilization in Trump’s 33 percent bracket room in the 28 percent parentheses today.. Second, trump eliminates personal exemptions—worth $4,100 for a single tax filer in 2017. That raise the traditional deduction significantly—from $6,400 to $15,150 because that singles—but our hypothetical taxpayers would certainly itemize deductions.

In addition, while Clinton would rise capital benefit tax prices markedly on an extremely high-income filers, some world would face higher gains tax rates under Trump’s plan. The 20-percent long-term capital gains rate takes result with the peak 33 percent rate, i beg your pardon kicks in at lower earnings than under present law or under Clinton’s plan.


Take a look in ~ these two charts. They display effective marginal tax rates on ordinary income and long-term resources gains for singles and also for married couples through no children. Lock assume that itemized deductions room 10 percent the AGI because that those that don’t take the traditional deduction. The chart includes not only the statutory rates, but additionally the results of the itemized deduction phaseout for high-income filers (Pease), the Affordable care Act surtaxes, and Clinton’s 4 percent surtax on earnings over $5 million. It no reflect the effect of the AMT (which Trump would repeal), Clinton’s Buffett Rule, or Trump’s cap on itemized deductions.

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Clinton is in blue and also Trump is red. You deserve to see the while counting under Clinton are often greater than under Trump, over there are varieties of income where Trump’s tax prices are higher. 

There are lots of other complexities that room reflected in the calculator. Try it, both for the pre-packaged scenarios and also for ones you style yourself. The will assist you recognize the crucial features affecting individuals in each proposal.

But you far better do the quick. In a week, one of these plan is walk to be irrelevant!