The year 2016 has brought on a very important election upon the citizens of the United States. Two candidates are running that could change the future and freedom of citizens. Multiple fights have occurred over which candidate is better suited for presidency. We all are wondering how will each candidate impact my future? Hedge fund manager Brad Reifler breaks it down:
Both Clinton and Trump disagree on various topics, but making the tax code easily accessible to the average working American is what they can agree on. It is important to note that they both have different ways of solving the problem.
Clinton’s tax proposal focuses more on the upper class Americans making over a million dollars a year. There are still some ways in which it will affect the middle class. She is planning on changing the way capital gains taxes are calculated by making the formula more complicated.
Trump’s plan is a little more straight forward where he intends to take existing tax brackets and split them up into a few income levels. In addition, he plans on limiting deductions for both single and married people.
With that said, neither candidate has really gone into a lot of detail regarding simplifying the tax code. Trump’s website is the only place right now that shows a clear plan for the tax code. He plans on removing the need for most citizens to itemize aspects of their tax returns.
Both candidates have come to an agreement on child-care tax breaks. Trump and Clinton both plan by offering more assistance in providing more subsidies for child-care costs.
Brad Reifler is a serial entrepreneur. He is the founder and chief executive of Forefront Capital since 2009. Reifler was the former co-owner, chairman, and CEO of Pali Capital which provided international services. Before any of his big business positions, he was an expert trader at Refco. Brad Reifler got his first ever real business form Reifler Trading Company in 2000. He has been a director for Sino Mercury Company, Genesis Securities, and European American Investment Bank. His grandpa was the founder of Reftco, Ray E. Friedman.