Donald Trump would cut taxes for the poor and rich, he said in a plan announced Monday.
Critics pointed out that he did not explain how the U.S. government would generate revenue.
Mr. Trump announced his plan for tax reform Monday morning in New York City. He called for an end to income tax for low-earning individuals. But he said he would raise income tax for the wealthiest Americans, including himself.
It's going to cost me a fortune, Trump said. He said the proposal would "trigger the economy, make everyone want to go back to work."
Trump called for ending federal income taxes for individuals making $25,000 or less a year. He said married couples would be exempt from income tax if they made a combined $50,000 or less.
However, Mr. Trump said he would also sharply cut the tax rate on businesses -- from 35 percent to 15 percent. And he said he wants to reduce the highest tax income rate on individual taxpayers.
