Tax Reform : Will Make America Great Again Essay
The Goals Of Donald J. Trump’s Tax Plan
Too few Americans are working, too many jobs have been shipped overseas, and too many middle class families cannot make ends meet. This tax plan directly meets these challenges with four simple goals:
1.Tax relief for middle class Americans: In order to achieve the American dream, let people keep more money in their pockets and increase after-tax wages.
2.Simplify the tax code to reduce the headaches Americans face in preparing their taxes and let everyone keep more of their money.
3.Grow the American economy by discouraging corporate inversions, adding a huge number of new jobs, and making America globally competitive again.
4.Doesn’t add to our debt and deficit, which are already too large.
The Trump Tax Plan Achieves These Goals
1.If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax. That removes nearly 75 million households – over 50% – from the income tax rolls. They get a new one page form to send the IRS saying, “I win,” those who would otherwise owe income taxes will save an average of nearly $1,000 each.
2.All other Americans will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax (AMT) while providing the lowest tax rate since before World War II.
3.No business of any…