Trump committed to a tax code in which no corporation would pay more than 15% of its profits in taxes. The proposal for tax cuts would put in place a system with three tax brackets of 12%, 25%, and 33%. However, it is certain that the highest-income taxpayers would save under the Trump plan. (CNN) Republican presidential nominee Donald Trump gave his first major economic address on Monday. Currently, high-income taxpayers pay a 39.6% tax rate on income over $415,000 for a single individual.

Source: CNN August 08, 2016 23:26 UTC