Tax plans from Trump and Bush would add trillions to deficit

Tax Plans From Trump and Bush Would Add Trillions to Deficit
Tax Plans From Trump and Bush Would Add Trillions to Deficit

Donald Trump and Jeb Bush don't really agree on taxes. But according to analysis from the Tax Policy Center, their tax plans have some things in common — including across-the-board tax cuts, especially for the wealthiest Americans.

Under Bush's plan, the top 0.1 percent would get about a 12 percent tax break, while the lowest income bracket would see a 1.4 percent tax break. For Trump, the top 0.1 percent would get a tax cut of almost 19 percent, while the lowest income bracket would see a break of about 1 percent.

See Jeb Bush and his family through the years:

Both plans would also add to the national deficit and debt, but the Center says Trump's would add a lot more.

The Tax Policy Center found that from 2016 to 2026, Bush's plan would add $6.8 trillion to the national debt, while Trump's would add $9.5 trillion.

To put those numbers into perspective, George W. Bush's tax cuts in 2001 had a projected price tag of $1.35 trillion over 10 years.

Both candidates have said they hope to pay for their tax cuts by cutting the federal budget, although neither candidate has gone into specifics.

Trump said, "We're going to cut out huge sections of, as an example, the Department of Education, environmental protection, it's disgusting what they've done."

See Donald Trump through the years:

Both also say their tax cuts will stimulate the economy and make up for some of the deficit. Analysts say some growth could result from the plans — about 10 percent in GDP — but that's not nearly enough to balance out the tax revenue loss.

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