Is today Tax Day? Not really. You actually have until Monday, April 18 to file your 2016 taxes before the IRS deadline.
Tuesday’s another big day next week. New York will hold its primary election. Republican presidential hopefuls are vying for 291 delegates and their Democratic counterparts are looking to win 95.
What a great time to draw attention to the Presidential candidates’ tax plans for your future tax days! Congress is busy laying the groundwork this year to begin tackling tax reform in 2017. What will our next President bring to the table?
Republicans and Democrats have much different ideologies when it comes to taxation. Democrats for the most part see tax reform as a battle over income inequality and the best way solve the challenge is to be a little bit like Robin Hood – raise taxes on the wealthy to pay for lower taxes on middle and low income earners. Republicans generally believe that cutting taxes is the path toward economic prosperity and job creation – not a bit like Robin Hood. The ideal, I think, is a combination of the two.
The Tax Foundation has a great guide for comparing the candidates’ tax plans. Click here to start educating yourself on the different positions and how they might impact the US economy.
If you want to keep track of who’s winning the race so you can start preparing for the April 15ths to come, I love the NYTimes 2016 Delegate Count and Primary Results chart.
Happy Tax Day! Happy Friday! Happy All of Your Days!