As the presidential race counts its days to the next U.S President, the fundamental question that Americans should ask themselves is how their lives are going to be affected by each presidential candidate’s plans. Currently, it’s impossible to figure out the effects of their actions, but certainly, there are a few pointing factors as to where the impact of the weight will lie the most.
Greater Scrutiny or Fewer Brackets
Both Trump and Clinton aim to simplify the tax code. They claim that it will make it readily available to the average American, but the way they intend to execute this simplification varies between the two candidates. Currently, capital gain taxes are worked out according to income brackets, but if Clinton wins the elections, the capital gains will take a turn to how long an investor has held them.
On the other hand, Trump wants to do it by breaking down the existing tax brackets into simpler income levels.
Concurrent ideas on Child Care
The two aspiring presidential candidates have come to settle on the idea that child-care tax should be brought down. The candidates hope to offer more help to families by providing bigger subsidies for increasing child care costs.
Among the many changes that the candidates are putting on the table, Estate Tax is the most notable between the two candidates. For Trump’s Estate tax plan, he intends to revoke estate tax. He would also like to increase the amount payable to capital gains taxes, and then remove the money taxable to small farms and businesses.
In contrast to that, Clinton wants to lower the minimum requirements for the estate tax and also seeks to increase the maximum percentage earned from this tax. Clinton also sides with Trump in eliminating particular clauses of this tax, which in turn will make capital gains taxes to shoot up.
According to Brad Reifler who is an investment adviser and a serial entrepreneur and also very well-known in the financial world for discovering Pali Capital, Forefront Group, and the Forefront Income Trust agrees that their taxes which need to be done away with completely. Read about what Brad is doing for the average investor in full on Yahoo Finance’s article “Brad Reifler and Forefront Capital Want to Diversify Your Portfolio”.
Wikipedia writers cite that Brad Reifler has been in the business of wealth management and boutique investment banking. He offers investment advisory services to institutions and individuals on both a non-discretionary and discretionary basis. His firm satisfies the long-term appreciation and income needs of international agencies, financial advisers, individual investors, and distributors. Brad Reifler also said through Twitter that some areas are not going to be significantly affected by either of the candidate’s aspirations like the social security, but still some areas could be greatly affected by the election’s next president. Read Brad’s article in full here: http://www.huffingtonpost.com/entry/how-the-presidential-race-could-shape-the-economys_us_57fcfecde4b0b665ad818b13?