As part of their “Election Center” feature, the National Federation of Independent Business (NFIB) has published Who Will You Choose? Presidential Issue Comparison, that analyzes each candidates position on issues that are important to small business.
The data is pulled directly from candidates’ plans. NFIB notes that they don’t endorse candidates for the highest office in the land, but they do provide a head-to-head comparision, so their members can make an informed choice.
So, where do they stand? Let’s take a look.
Income Tax Rate
Trump: Proposes reducing the number of tax brackets to three: 12%, 25%, and 33%.
Clinton: Proposes a new tax surcharge on high-income taxpayers effectively raising the top rate to 43.6%. Proposes increasing capital gains taxes and implementing the “Buffett” rule to enact a new minimum tax rate on those with over $1 million adjusted gross income.
Business Tax Rate
Trump: Proposes a new 15% business rate that would apply to corporations and pass through businesses.
Clinton: Proposes no change in corporate tax rates.
Trump: Proposes elimination of the Estate Tax, but capital gains held until death will be subject to tax, with the first $10 million tax-free as under current law to exempt small businesses and family farms.
Clinton: Proposes restoring the federal estate tax to 2009 levels and create new brackets for estates over certain sizes: 45% for estates over $3.5 million, 50% for over $10 million, 55% for over $50 million, and 65% for over $500 million.
Trump: Proposes eliminating the EPA’s Waters of U.S. rule and Clean Power Plan rule.
Clinton: Supports the EPA’s Waters of the U.S. rule and Clean Power Plan rule and proposes additional measures to transition U.S. energy sources to renewables.
Trump: Proposes repealing the Affordable Care Act and replacing it with Health Savings Accounts.
Clinton: Proposes expanding the Affordable Care Act by creating a new “public option” government-run insurance plan. She proposes increasing tax credits to assist with health insurance premiums. She also proposes allowing people over 55 buy into Medicare.
Trump: Proposes opening onshore and offshore leasing on federal lands.
Clinton: Proposes putting additional regulations on oil and natural gas development.
Trump: Proposes expanding unemployment insurance (UI) programs to pay for six weeks of maternity leave. Trump proposes paying for increased leave by eliminating fraud in the UI program.
Clinton: Proposes 12 weeks of paid family and medical leave. Clinton proposes paying for the increased leave with higher taxes on the “wealthy.”
“We Provide, You Decide.” ##
(Image credits are as shown above.)
Submitted by RC Williams to the Daily Business News for MHProNews.