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Trump’s finances plans

March 8th, 2015 No comments

Unsecured loans are those that do not require any collateral for loan disbursement.

If there is a default, the government will not receive any interest or the principal from the borrower.

There are no public disclosures of how the government uses securitized loans. For example, the government might use these funds to pay down the country’s debt, purchase U.S. Treasury bonds, or even pay for construction of border barriers. The amount of securitized loans was not disclosed in either the Obama or Trump financial disclosure forms, which were released on May 18, and that’s why people are looking for different financial options such asĀ emergency loans no credit check, to get loans in a more easy and fast way.

As for Trump’s debt-financing plans, they’re unclear. While Trump has pledged to reduce the national debt, he has not yet detailed how he would do it. The campaign has said that the debt-financed construction of a wall along the U.S.-Mexico border could save the government about $10 billion. “When I am elected, we will not have a debt crisis like we have right now,” Trump promised during his announcement. But, as a real estate developer with no experience in federal financial management or government finance, he might have to negotiate with Congress. (He has vowed to renegotiate or break the North American Free Trade Agreement.)

Trump may not know a lot about government finances, but he has an economic-development background that’s a plus. His business acumen includes a successful real estate deal in New York and more than a decade in the real-estate business.

During his campaign announcement, Trump said he would cut taxes on U.S. business owners and eliminate their payroll taxes.

He has also proposed slashing corporate and personal income taxes, including an 18.5% tax on all corporations and a 14.25% corporate tax rate for “pass through” businesses, such as sole proprietorships and partnerships. But he has not said if he’d repeal the alternative minimum tax. Trump has also proposed the repeal of the estate tax, but has said he’d allow it to remain in place if passed as part of a tax overhaul.

Trump’s tax plan would also eliminate the alternative minimum tax, or AMT, a requirement that some taxpayers pay a minimum tax of 30 percent on some income, but that the IRS has said affects far fewer people than originally thought.

The AMT was initially proposed by President Ronald Reagan, but was largely used by Democratic President Barack Obama’s administration.

Trump has also proposed eliminating the state and local tax deduction, which could save taxpayers as much as $1 trillion.

Trump’s tax proposal is also expected to cut the corporate tax rate from 35 percent to 20 percent and to change the deduction for pass-through businesses from 39.6 percent to 25 percent. The AMT is only one piece of the tax reform, but the White House is expected to focus on eliminating it as part of the overall effort.

Related: Trump and GOP plan to cut rates, simplify taxes

On taxes, House and Senate Republicans released a draft tax bill Monday that would, among other things, lower the corporate tax rate from 35 percent to 20 percent. But that rate will be permanently locked in, not likely to change.

— Republicans have been under tremendous pressure to deliver on their promise to repeal Obamacare, and they plan to try to pass a bill quickly and easily through the Senate.

 

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