How Did Don Trump's Tax Plan Benefit The Economy

George W. Bush lowered the taxes during his term, signing the Economic Growth and Tax Relief Reconciliation Act. The idea was to lower taxes for Americans but only the richest people benefited from the taxes being lowered. The average middle-class family received one-eighth of the tax breaks a richer family would and therefore the middle class fell behind. The tax cuts also failed to make jobs for people, influences the current day deficit problem. George W. Bush tried to lower taxes during his term however only the rich gained and the negative affects are still seen today.

The debates on tax cuts are making their way to headlines of every radio station, newspaper, and television station in America. Today, tax cuts would only benefit the wealthy and wouldn’t really benefit the lower class. “The administration and it’s congressional alleys are proposing to sharply reduce taxation of the business income primarily benefiting

As said on npr.org by Danielle Kurtzleben “Donald Trump’s tax plan is indeed a large tax cut, but those cuts would largely benefit the highest earners. According to a recent analysis from the right-leaning Tax Foundation, the top 1 percent could see their after-tax incomes increase by up to 16 percent. Meanwhile, the bottom four quintiles would see their incomes grow by 1.9 percent or less.” Donald Trump is focused on making the rich richer and the middle class less fortunate than they already

The price of products will drop which can lead to the growth of the economy if the taxes of big corporations will decrease. According to President Trump in the third debate on President Debate “When the company lower the taxes from 35% to 15% they have more money to spend on research, development, and producing things which can lead to growth”(para.2). Therefore,companies do not need to move from and buy or sell their products from other countries that raises the cost of their products only to avoid paying high rates here in the United States. If they will not have to pay high rate of taxes more products will be made here and these may cause a decreasing in the price of the products. The economy will expand again. However, we live in a country where business is all about competition.A country where business is pure capitalism which means business are owned and or manage by private owners for profits. They are only after the profits, they do not think about their consumers because we need their products to survive so we still buy them. Even though Money is only matters when it comes to business but by

Donald Trump said in the debate, “Under my plan I will be reducing taxes tremendously from thirty-five percent to fifteen percent for companies, small and big businesses.” Trump is appealing to business owners but also to middle class people. The reason for him appealing to middle class people is because the less businesses have to pay for their products to be manufactured and shipped to them, the less consumers have to pay. With doing so, Trump could increase the amount of money that's in Americans wallet. He wants to persuade Americans to vote for him. Since today the economy is going down the toilet he's showing a resolution to this problem us Americans are feeling. Also he is appealing to small business owners. In today economy a lot of

The dean of Columbia Business School, and former top economic advisors to Mitt Romney and George Bush reviewed Jeb Bush’s tax plan and compared what they found to others who also reviewed his tax plan. I did not include this in my paper because I had a detailed outline of Jeb Bush’s tax plan by Jeb Bush himself and decided to use Bush’s hometown paper, The Miami Herald, to reveal more about his plan.

In 1933, Franklin D. Roosevelt became president of the United States. His presidency was known as the “New Deal” because of the promises that he made to Americans. The New Deal was his idea to get America out of the Great Depression.

Beginning in the early 1930s, banks plummeted, businesses fell, and millions lost their jobs. This left millions hungry, poor, and abandoned. Thousands were without homes and many lived in “hoovervilles.” When Franklin D. Roosevelt was elected as president in 1933, he began to develop the New Deal and government-funded programs to help improve the economy and the lives of United States’ citizens. FDR’s actions upset many republicans for several reasons: the New Deal was spending more money than the country had; deficit spending; the New Deal was only dealing with unemployment by turning of millions of people to government employees; and the New Deal was increasing government involvement.

Donald Trump’s plan focal point is on cutting taxes and how that will result in many benefits towards the economy. “The president-elect has said he can get the economy to grow nearly

This may sound like a tax plan that will relieve the financial burden on lower-income taxpayers, directly benefiting the poor, but in actuality, cutting taxes for all in a regressive manner gives substantially more money to the wealthiest taxpayers and a very small amount to lower income taxpayers. According to his plan, a typical American family of four will be able to keep at least $1, 600 more of

Taxing the upper class and large corporations offer many benefits such as bringing back loss revenue and employing that money to create more government programs for the population. It is also fair because the rich have found ways to avoid paying taxes by hiding their earnings in another location. With Sanders’ proposal, loopholes in the tax code will be closed and the opulent will have to pay taxes. Nonetheless, this proposal will raise taxes for the population, which will also affect the middle class. Although this tax raise mostly targets the affluent, the middle class will see a decrease of 10.56 percent in their after tax income and an average decrease of 12.84 percent of after tax income for all classes, excluding the lowest class (Edwards).

The encouragement of economic disparity because of these tax cuts is bad for America. The US should be aiming for more social and economic equality for everybody. Tax cuts can slow down the economy by putting more money into the wealthy peoples’ hands and giving less to the people who need it.

Some might say that because trump is a buisessman he can help America grow in its economy. But the fact still remains that, Trump has no history in politician what so ever, he is a business man and that’s it. Past presidents and canidts such as Obama, Hillary Clinton, and bush etc have all started out as lawyers or have part in some sort of government background or experience, not trump. He studied business at Wharton university,the most elite and well respected business school in the world. From there he has built casinos, made he’s own tv show, Trump vodka, board games and much more. Its no secret he is a good business man and could help America grow in its economy, but the economy is one of billions of problems America has, Isis, poverty

Even though the GOP’s tax plan is theoretically a great plan in attempt to the spur the economy, the risk is very great. The risk is large because when the taxes are cut, this means that the government would be losing an immense amount of money. “The Trump administration made no mention on Wednesday of how it planned to pay for such steep tax cuts, which could cost $2.2 trillion, according to the Committee for Responsible Federal Budget” (Gelles). The amount of money lost is crucial in determining how this plan will fare out because even though many of the businesses will become richer and more prosperous, the government will lose money to spend on things like public works, which help to create jobs and spur the economy. Even though this plan is thought out to allow the economy and businesses to prosper, history has showed that economic growth resulted from tax cuts does not sustain long. This can then lead to smaller businesses getting rich quick and then losing that money later down the line, which would then hurt Amazon because they would too prosper for a while, but then lose that money. The government would

The United States is in a recession; it has been facing some of the worse economic times since the Great Depression in the 1930’s. One option to fix the economy is to change the corporate tax rate. To lower it or to raise it, that is the question economists have been speculating. America's high corporate tax rate and worldwide system of taxation discourages U.S. companies from sending their foreign-source revenue home, which makes U.S. companies defenseless to foreign acquisition from the international opponents (Camp). Corporations and United States citizens have been fighting for a tax reform, which would hopefully help the American economy; either by lowering the corporate tax, or by raising the tax.