Campaigns are bullshit.
Spin wins, and the "hard truths" behind every proposal are usually left out because even though somebody always has to pay, no politician wants to admit that it might be you.
At least not until they're elected.
Given that, how do we know what to expect from a president Clinton, Sanders or Trump? And more importantly, is your business in good enough shape to handle it?
(If you're not sure, let us analyze your performance for you.)
Here's what the candidates have said so far about the issues most concerning to business owners, managers, executives, employees and stakeholders:
1. Corporate Income Tax: Rate
CLINTON
→ No specific proposal, but promises tax relief for small businesses that share profits with their employees
SANDERS
→ No specific proposal
TRUMP
→ Lowers the top corporate rate to 15%
2. Corporate Income Tax: Capital Investment
CLINTON
→ No specific proposal
SANDERS
→ No specific proposal
TRUMP
→ No specific proposal
3. Corporate Income Tax: International Income
CLINTON
→ Strengthens rules preventing inversions
→ Imposes an "exit tax" on unrepatriated earnings of U.S. firms going through inversions
SANDERS
→ Ends the deferral of tax on foreign income
→ Creates several limits on the foreign tax credit
→ Revises rules about corporate inversions and foreign corporations operating domestically
TRUMP
→ Ends the deferral of overseas corporate income but preserves the foreign tax credit
→ Enacts a deemed repatriation of foreign income at a 10% rate
4. Corporate Income Tax: Pass-through Business Income
CLINTON
→ No specific proposal
SANDERS
→ No specific proposal
TRUMP
→ Taxes pass-through business income at 15%
5. Payroll Taxes
CLINTON
→ No specific proposal
SANDERS
→ Raises the employer-side payroll tax rate by 6.2%
→ Applies the Social Security payroll tax to earnings over $250,000
→ Creates a new payroll tax of 0.2% to fund paid family leave
TRUMP
→ No specific proposal
6. Other Taxes
CLINTON
→ Establishes business tax credits for profit-sharing and apprenticeships
→ Taxes carried interest at ordinary income rates
→ Establishes a tax on high-frequency financial transactions
SANDERS
→ Eliminates the personal exemption phase-out
→ Establishes a financial transactions tax, at a rate between 0.005% and 0.5%, with an offsetting credit for low-income Americans
→ Taxes carried interest at ordinary income rates
TRUMP
→ Places a "reasonable cap" on the deductibility of interest against the corporate income tax
→ Taxes carried interest at ordinary income rates
→ 20 percent tax on those who outsource jobs overseas
7. Income Tax: Rates on Ordinary Income
CLINTON
→ Adds a 4% surtax on income over $5 million
SANDERS
→ Establishes four new brackets of 37%, 43%, 48%, and 52%
→ The top rate applies to taxable income over $10 million
→ Raises the rate of all other brackets by 2.2%
TRUMP
→ Establishes four tax brackets, with rates of 0%, 10%, 20% and 25%
→ The top rate applies to to income over $150,000 for single filers and $300,000 for joint filers
8. Income Tax: Rates on Capital Gains and Dividends
CLINTON
→ Adds a 4% surtax on income over $5 million
→ Raises rates on medium-term capital gains (investments held for less than six years) to between 24% and 39.6%
SANDERS
→ Taxes capital gains and dividends at ordinary income rates for households with incomes over $250,000
TRUMP
→ Eliminates the net investment income surtax
9. Estate Tax
CLINTON
→ Increases the top estate tax rate to 45%, and lowers the estate tax exclusion to $3.5 million
SANDERS
→ Increases the top estate tax rate to 65%, and lowers the estate tax exclusion to $3.5 million
TRUMP
→ Eliminates the estate tax
10. Misc.
CLINTON
→ Plans to invest $25 billion to support entrepreneurship in underserved communities in the United States
→ Recommends protecting the Dodd-Frank Act
→ Recommends imposing a “risk fee” on banks with more than $50 billion in assets
→ Supports a bill that would prohibit employers in the private sector from offering bonuses to departing employees who join the government
→ Recommends cutting the red tape that surrounds small businesses at every level of government
SANDERS
→ Plans to invest $1 trillion over five years to modernize our infrastructure and support more than 13 million jobs
→ Recommends providing low-interest loans — at rates similar to what the Federal Reserve offers to foreign banks — so companies can improve their business while maintaining good cash flow
→ Recommends enacting visa reform to ensure workers from outside the U.S. aren’t exploited or that visas aren’t granted to those taking American jobs
→ Recommends implementing strong regulations on corporations to protect the American people
TRUMP
→ Has criticized efforts to reduce loopholes and deductions available to the very rich and special interests because they end up hitting small businesses and job creators as well
→ Wants to impose stricter rules of immigration to protect American jobs
Sources: Tax Foundation, CNBC, Ballotpedia, P2B Investor
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