Trump’s Tax Cut – FDR Would Be Envious

Trump promised to achieve 4 percent growth with tax cuts. In his first 100 days, he released the outline of would become the Tax Cuts and Jobs Act. It cut the corporate tax rate from 35 percent to 21 percent beginning in 2018. The top individual income tax rate drops to 37 percent.

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So that the science of happiness and money, on that theme, is really, really relevant to tax policy and how we distribute resources. And regrettably, the Trump tax cut is tone-deaf. gee, if Donald.

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The first rule of politics is feather your own nest. President Trump’s tax cut proposal always had this in mind. Congress has passed a bill which tinkers at the edges but leaves most of Trump’s core proposal intact. It’s obvious to me that Trump has the political acumen of another brilliant U.S. politician, the loathsome [.]

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Trump’s Tax Cut – FDR Would Be Envious. Trump’s tax plan will have similar effects. And it’s why there was such staunch opposition to it in Congress. Democratic leadership understand that the triple-whammy of eliminating the State and Local Tax exemption, lowering corporate tax rate to 20% and incentivizing the on-shoring.

The tax reform plan passed by the US House of Representatives involves a cut in corporate income tax from 35 to 20 per cent. But the plan is not yet a fact. The bill now goes to the Senate, where it will probably encounter more resistance and where the Republicans have only a very small majority.

A new analysis by the tax policy center finds that the tax cuts included in the Trump administration’s outline for tax reform released in April could cut federal revenues by as much as $7.8.

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