Warren Buffett responds to Donald Trump's tax comments


If you're still on the fence about which candidate to vote for, your final decision may hinge on how their policy ideas could potentially impact your wallet.

We're cutting taxes for the middle class, and I will tell you, we are cutting them big league for the middle class. She plans to invest another $50 billion in the Rural Infrastructure Opportunity Fund, a publicly funded initiative that seeks to invest in public infrastructure in rural areas to attract more businesses and, as a result, more jobs for the under- and unemployed. Her plan would not lower the federal debt because of spending programs she has proposed, analysts said. Meanwhile, Clinton's lengthening of capital gains holding periods would hurt stockholders relative to bondholders. since the former are more prone to invest with capital gains in mind.

Both candidates have made extensive revisions to their tax plans over the past six weeks, and tax policy remains one of the starkest differences between them.

Trump's plan to eliminate the AMT could be an important step toward simplification.

In principle, experts on taxation say it makes sense for authorities to give taxpayers a break for past losses. The plan has been stalled since February, when the U.S. Supreme Court agreed to hear a case that questions the constitutionality of the plan.

Clinton's campaign said the plan would cost between $150 billion and $200 billion and would be paid with higher taxes on the wealthy. Her current proposals would have little impact on the bottom 95 percent of taxpayers, according to the Tax Policy Center. Add in a break for families under the poverty line, but have everyone else pay, say, 10 percent or 15 percent of their earned income for the year.

Warren Buffett schooled Donald Trump on Monday about the taxes of a billionaire.

Clinton wants to double the credit available to $2,000 per child through the age of four.

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Instead, numerous changes Trump has proposed would actually reduce his tax bill - if he ever had one, that is.

Where Clinton would increase taxes on corporations and investors, Trump would drastically reduce them. Analysts said Trump had not said what constitutes a large business.

Brackets for single filers would be half of these amounts. His plan would also eliminate the death tax (aka. the estate tax) and gift taxes. Trump's plan, meanwhile, would decrease federal revenue by $6.2 trillion over that period, with the top 1 percent getting nearly half the benefit. She's also proposed hiking capital gains taxes as well as increasing the estate tax on large inheritances to 65 percent.

Trump has refused to release his tax returns, citing ongoing audits by the IRS. Republican House Speaker Paul Ryan has made the same proposal, which the conservative Tax Foundation said would help boost after-tax income for the wealthiest 1 percent of Americans by 5.3 percent.

CLINTON: Has made several proposals meant to help limit child care expenses to 10 percent of a family's income through a combination of expanded government spending and unspecified tax credits.

The Trump campaign did not answer a request for clarification on how he's benefited from the carried-interest provision.

Make sure to register to vote by October 14. This way, the system couldn't help but be more equitable.