Tell us about your experiences with Marketplace. Enter To Win

Trump’s plan cuts taxes, but not for everyone

Kimberly Adams Nov 17, 2016
HTML EMBED:
COPY
More than a year ago, President-elect Donald Trump gave a speech outlining his vision for tax reform at his skyscraper on Fifth Avenue in New York City. Andrew Burton/Getty Images

Trump’s plan cuts taxes, but not for everyone

Kimberly Adams Nov 17, 2016
More than a year ago, President-elect Donald Trump gave a speech outlining his vision for tax reform at his skyscraper on Fifth Avenue in New York City. Andrew Burton/Getty Images
HTML EMBED:
COPY

A cornerstone of Donald Trump’s economic pitch was an overhaul of the U.S. income tax system. The president-elect plans to condense personal tax brackets from seven down to two, with the top rate maxing out at 33 percent — significantly lower than the current top brackets. But that doesn’t mean every American will get a break; under Trump’s proposal, some middle- and lower-income people could actually pay more in taxes.

Click the above audio player to hear the full story. 

Editor’s note: The description of the audio content was updated to correct the number of tax brackets included in President-elect Donald Trump’s tax plan.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.