Donald Trump wants to cut the corporate tax rate

The Republican candidate will unveil his tax plan in Manhattan on Monday morning

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The Independent US

Donald Trump will announce his second policy proposal during his bid for the White House from Midtown Manhattan's Trump Tower on Monday morning.

Following his controversial immigration plan that would "round up" and deport millions of undocuments immigrants, the real-estate mogul will announce his plan that will give some Americans the freedom to pay zero taxes.

During his "60 Minutes" interview on Sunday night, Mr Trump teased his new proposal. 

"If you look at actually raise, some very wealthy are going to be raised. Some people that are getting unfair deductions are going to be raised. But overall it's going to be a tremendous incentive to grow the economy and we're going to take in the same or more money. And I think we're going to have something that's going to be spectacular."

"There will be a large segment of our country that will have a zero rate," Mr Trump boasted.

The Wall Street Journal recieved an early copy of the plan, which features a rate of 0 percent for individuals making less than $25,000 in annual income.

An advisor for Mr Trump's campaign appeared on CNN Monday morning to defend the tax proposal: "More Americans will be keeping their money in their pocket as opposed to sending it to Uncle Sam."

"Republicans may not like the full extent of Mr Trump's tax plan, but I'll tell you who's going to like it: all Americans — Republicans, Democrats, all the voters. Because, again, they're going to keep the money that they earn in their pocket. And he's going to simplify the tax code."

The proposal seems to be a stark departure from plans in his 2001 book The America We Deserve. Then, Mr Trump saught to impose a one time tax rate of 14.25 percent on all individuals with a net worth of more than $10 million.

In 2011, Mr Trump has changed his tune in his book Time to Get Tough. Americans who made $30,000 would pay 1 percent, those who made an income of $30,000 to $100,000 would pay 5 percent, and wealthier Americans who made $100,000 to $1 million would pay 10 percent.

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