Republican presidential front-runner Donald Trump said he’ll probably end up paying more money under the tax plan he unveiled Monday, but that he could end up doing better because of the stronger economy he says the plan will help drive.
“I will probably end up paying more money, but at the same time I think the economy will do better, so I’ll make it up that way,” Mr. Trump said in an interview with CNN’s Erin Burnett. “But I will probably end up paying more money. I believe in the end I might do better because I really believe the economy is going to go boom, beautiful.”
Mr. Trump’s plan, among other things, consolidates individual income tax brackets into four brackets while preserving popular tax deductions like the deduction on home mortgage interest. It also eliminates the so-called “carried interest” loophole, which allows certain dividends to be taxed at a lower rate for capital gains.