Plans to rip into Trump...

Clinton plans to rip into Trump's tax plan in speech on the economy

By Toby Eckert

Hillary Clinton plans to set up a stark contrast Thursday between her tax plan and Donald Trump’s, portraying her Republican rival’s proposal as one that would “only benefit millionaires like himself,” according to Clinton’s campaign.

At the same time, Clinton — in a speech in Warren Mich. — will tout her own tax plan and other economic proposals as a boon to the middle class.
Taxes have so far been a secondary issue in the campaign. But Trump made his tax cut proposal a central point of an economic address he delivered in Detroit on Monday.

In Warren, Clinton will characterize Trump’s plan as “destructive to the economy" that would "not just benefit the wealthy, but benefit his wealthy friends, his businesses and his family,” her campaign said in an outline of the speech.

Trump’s plan would cut the top tax rate to 33 percent. He proposed a 15 percent business rate that Clinton says would directly benefit Trump and his business empire.

He has also proposed eliminating the estate tax, which the Democratic candidate says “would be about a $4 billion gift to him and his family.”

“Trump proposed slashing taxes for corporations, which would apply to the same type of ‘pass through’ income that Trump reportedly relies heavily on,” the outline of Clinton’s speech says. “Unfortunately, no one can be certain how much Trump’s plan would cut taxes for himself, because he has not released his tax returns.”

Clinton has proposed a number of tax increases targeting the wealthy, including three new minimum taxes, layered on top of the alternative minimum tax. She would use much of the revenue to pay for new spending initiatives, such as offering free college tuition.

In Detroit, Trump said his plan “will offer the biggest tax revolution since the Reagan Tax Reform, which unleashed years of continued economic growth and job creation.”