I compared Hillary Clinton and Donald Trump's tax plan to see how it would affect me as a middle class tax payer. Here's the break down assuming I can get my deductions to bring me down to $75,300 of taxable income.
Hillary Clinton places that salary in a 25% tax bracket (married filing jointly) which translates to me paying around $398.00 in fed tax a paycheck. That's around $798.00 a month or $10,360.00 per year in fed taxes (my salary is divided over 26 pay periods).
Donald Trump places that salary in a 10% tax bracket which translates to me paying around $97 in fed tax a paycheck. That's around $194.00 a month or $2,530.00 per year in fed taxes.
Donald Trump's tax plan would put an extra $300.00 a paycheck in my pocket every paycheck. That's about $600.00 a month or $7830.00 per year in extra money.
If I were to invest that $300 each paycheck into a mutual fund with an average interest rate of %10 I would have....almost 2 million dollars when I retire in 30 years.....
Think about that when you consider who you are going to vote for in November. An extra $600 a month can go an extremely long distance in most people's households (especially for my family of 5).
You can check Clintons tax plan here
And Trumps tax plan here