Economics
Trump's Tax Plan Borrows From Republicans Who've Gone Before Him
The billionaire candidate, who has been criticized by rivals as having a loose grip on policy, leans on many of the proposals from Marco Rubio, Jeb Bush, Rand Paul, and John McCain.
Republican presidential candidate Donald Trump holds a news conference on taxes on Sept. 28, 2015, in New York City.
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Donald Trump has portrayed himself as a different kind of Republican presidential candidate. His tax plan is mostly more of the same.
The billionaire front-runner for his party's presidential nomination has been promising to make “hedge fund guys” pay more by eliminating the carried-interest deduction, which taxes private equity and hedge fund profits at 23.8 percent. But Trump's plan also reduces the top income tax bracket on the wealthiest Americans to 25 percent from 39.6 percent, effectively minimizing the hike that the real estate celebrity has spent months promoting.