The Leading GOP candidate, Donald Trump has a proposed overhauling the Tax code completely with respect to both the Individual and Corporate Tax as follows;
1)
Individual Tax Rate Policy
Proposing to have "4 tax brackets; 1-5-10-15%;
2)
Corporate Tax Rate Policy
Eliminating or killing death tax & corporate tax
Donald Trump states that
"
my 5-part tax plan involves reforming the income tax. The government confiscates way too much of your paycheck. The tax code is also a very complicated system that forces Americans to waste 6.1 billion hours a year trying to figure it out. What does that tell you? It tells me that it's time we restore simplicity & sanity to the income tax. Here's my income tax plan:
Up to $30,000, you pay 1%.
From $30,000 to $100,000, you pay 5%.
From $100,000 to $1 million, you pay 10%.
On $1 million or above, you pay 15%.
It's clear and fair. Best of all, it can be filled out on the back of a postcard and will save Americans big bucks on accountants and massive amounts of time wasted attempting to decipher the tax code.
"
Our country is hungry for real tax reform. That's why we should implement the 1-5-10-15 income tax plan. And we need to enact [the rest of] my 5-part tax policy: kill the death tax; lower the tax on capital gains & dividends; eliminate corporate taxes; and a 20% import tax."
During last year's debate over the tax cuts, Trump was outspoken in his opposition to President Barack Obama's effort to deny an extension to the Bush-era tax cuts for people earning more than $200,000 a year. "
He's taking away a lot of incentives from a lot of people that produce a lot of taxes," Trump told Fox News, explaining that Obama's proposal would drive the wealthy out of the country. "
It creates the wrong image. You really have to keep the taxes down."
Donald Trump further stated that,
"Let me sum up what is wrong with the tax code.- Its complexity bleeds off billions of productive hours.
- Tax rates are too high.
- Hidden taxes take even more
. High property taxes punish people for improving their property. Our code discriminates against married people. The complexity of the tax code allows too much government intrusion into our lives. The tax code is liable to change overnight in ways that could jeopardize your plans for a small business or retirement." 
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