(CNSNews.com) – GOP presidential nominee Donald Trump told the Detroit Economic Club Monday that he plans to eliminate the death tax and reduce the cost of child care by letting parents “fully deduct the average cost of childcare” from their taxes.
“My plan will also help reduce the cost of child care by allowing parents to fully deduct the average cost of childcare spending from their taxes,” Trump said, adding, “no family will have to pay the death tax. American workers have paid taxes their whole lives, and they should not be taxed again at death. It’s just plain wrong, and most people agree with that. We will repeal it.”
Trump said small businesses will “benefit the most from his plan.” He said Democratic presidential nominee Hillary Clinton’s plan “will require small business to pay as much as three times more in taxes” than what Trump is proposing.
Clinton’s “onerous regulations” will put small businesses “totally out of business,” he said.
“You cannot ever start a small business under the tremendous regulatory burden that you have today in our country,” Trump said.
Trump said not only would he cut “regulations massively,” but “our lower business tax will also end job-killing corporate inversions and cause trillions in new dollars and wealth to come pouring into our country, and by the way, into cities like right here in Detroit.”
“To help unleash this new job creation, we will allow businesses to immediately expense new business investments. No one will gain more from these proposals than low- and middle-income Americans,” Trump said.