Trump ‘stocks could go higher’ as Trump pushes for lower taxes
Donald Trump has raised the possibility of lower taxes for the rich in his new tax plan.
The president-elect told Fox News host Sean Hannity in an interview that he thinks lower taxes could lead to a bigger boost in stock prices, according to a report.
Trump has said he is considering lowering taxes on the wealthy, which is a big issue for many Americans, who have struggled to get ahead financially in the past decade.
Trump said he wants to lower the tax rate on the rich, which currently stands at 39.6% for individuals and up to 37% for married couples filing jointly.
He has also suggested a temporary tax on capital gains and dividends, though that is not an official part of the plan.
“The top marginal rate should be 75%, lower than what it is today, lower than it was in 1986, lower even than it is now,” Trump said.
“I think the top marginal tax rate is going to go down.”
Trump said a tax cut could help the middle class and the economy because it would help people “pay off debt” and help companies and individuals.
Trump also said that lowering taxes could help him pay for a wall along the US-Mexico border, which he said he was working on.
He told Hannity that he wants a wall that he can build “by the end of my term.”
“I’m working on a lot of things,” Trump told Hannity.
“You know, I’m building a wall on our southern border, you know, and I have Mexico going crazy because we’re not paying them.”
The president of the United States of America Donald Trump arrives for the presidential inauguration at the Capitol in Washington, DC, U.S., January 20, 2021.
REUTERS/Jonathan Ernst Trump said the U.N. is looking at a $400 billion plan to fight climate change and said it would “help pay for all of our infrastructure needs.”
Trump also reiterated his support for the Keystone XL oil pipeline, saying it is an important source of energy for the United State.
“If we can get the Keystone pipeline done, that’s going to be a huge source of jobs for the country,” Trump tweeted on Friday.
Trump was also asked about whether he will be able to meet his campaign promises during his first 100 days in office, which will begin on January 20.
He said he has done some things and not all, and said he’s looking at the list of things he can do, including his tax reform plan.