Donald Trump is an American businessman and politician elected as a President of the United States. Trump was elected on November 8, 2016, and he has managed to build his fortune and reputation. The most obvious reasons for his election was his tax proposal. He has a tax plan reforms that would significantly reduce marginal tax rates for both individual and business, increase standard deduction to nearly four-time current level, or repeal some tax expenditure, both individual and corporate alternative of US companies in the year they are earned. This proposal would reduce the federal revenue by $9.5 trillion over its first decade before accounting for added interest cost or considering macroeconomic feedback effect. The public will improve
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The plan would also reduce some tax distortions in the allocation of capital. One of the main elements of the Trump proposal was related to the individual Income tax. This related to the range from 10 to 39.6 percent, into three brackets of 10,20,25. This plan would retain current preferential tax rates of 0,15 and 20 percent on long- term capital gains and qualified dividends in relation to the couples with the income under $50 000 would be not tax deductible, only the 10 percent will apply to higher income than that. However, the 20 percent rate will relate to income from $100 000 to $300 000 and the 25 percent rate of income above that. Donald Trump ‘s taxation plans would represent a “massive giveaway” to America 's richest one percent and leave eight million of its poorest families worse off, based on this proposal. In my opinion, this tax plan does not provide the balance between the poorest and the richest group in America and does not work for the benefits of the low-income families. Tax experts have agreed that Trump 's plan is …show more content…
The large economy would result in 5.4 percent higher wages and 20.1 percent larger capital stock under the high-rate hypothesis, or 6.3 percent higher wages and a 23.9 percent greater capital. This plan would also result in 1.8 million more full-time equivalent jobs under the highest-rated assumption, or more 22 million more under the lowest rate assumption. The largest economy and highest wages are due chiefly to the significantly reducing the cost of capital under his plan, which lowers the corporate tax income in relation to those firms which will adopt not deduct the interest. His strategy was to increase the workplaces were based on that that he will try to bring a single company to manufacture abroad. His philosophy can be compared to the Smoot -Hawley Tariff Act 1930 in regards the higher trading of goods, which will boost the American
The plan would also reduce some tax distortions in the allocation of capital. One of the main elements of the Trump proposal was related to the individual Income tax. This related to the range from 10 to 39.6 percent, into three brackets of 10,20,25. This plan would retain current preferential tax rates of 0,15 and 20 percent on long- term capital gains and qualified dividends in relation to the couples with the income under $50 000 would be not tax deductible, only the 10 percent will apply to higher income than that. However, the 20 percent rate will relate to income from $100 000 to $300 000 and the 25 percent rate of income above that. Donald Trump ‘s taxation plans would represent a “massive giveaway” to America 's richest one percent and leave eight million of its poorest families worse off, based on this proposal. In my opinion, this tax plan does not provide the balance between the poorest and the richest group in America and does not work for the benefits of the low-income families. Tax experts have agreed that Trump 's plan is …show more content…
The large economy would result in 5.4 percent higher wages and 20.1 percent larger capital stock under the high-rate hypothesis, or 6.3 percent higher wages and a 23.9 percent greater capital. This plan would also result in 1.8 million more full-time equivalent jobs under the highest-rated assumption, or more 22 million more under the lowest rate assumption. The largest economy and highest wages are due chiefly to the significantly reducing the cost of capital under his plan, which lowers the corporate tax income in relation to those firms which will adopt not deduct the interest. His strategy was to increase the workplaces were based on that that he will try to bring a single company to manufacture abroad. His philosophy can be compared to the Smoot -Hawley Tariff Act 1930 in regards the higher trading of goods, which will boost the American