Donald Trump says that under his tax plan, his own wallet will take a hit.
The Republican presidential frontrunner sat down with CNN’s Erin Burnett on Monday afternoon after unveiling a tax reform proposal that calls for drastic cuts in income taxes for people across the socioeconomic spectrum.
In other words, it’s not only the middle class that would benefit from Trump’s plan: Those in the upper-income bracket — making $150,001 or more as an individual or $300,001 or more as a married couple — would pay 25% in income taxes, down from the current top rate of around 40%.
Still, the billionaire real-estate mogul told Burnett that he would “end up paying more.”
“I will probably end up paying more money,” Trump said. “But at the same time, I think the economy will do better, so I’ll make it up that way.”
He added: “I really believe the economy is going to go, ‘boom.’ Beautiful.”