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Trump’s Tax Plan Would Not Help to Achieve His Proposals

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TRump’s tax plan would not help to achieve his proposals
Accounting Communication

TRump’s tax plan would not help to achieve his proposals
Accounting Communication

Trump’s tax plan would not help to achieve his proposals
The main goal of Donald Trump’s 2016 tax plan is to decrease the tax obligation for each American without raising national debt or deficit (Trump’s Website). To achieve this goal, he plans to decrease low and middle class tax rates, to simplify the tax code in general, and to create new jobs. I like his intention of giving American better life through lower taxes. The positive side of Trump’s proposal is individuals and corporations would pay less in taxes. However, his tax plan will not make that come true. His intentions fail in three ways, one is this tax plan primarily benefits less than one percent of Americans, two it would increase the debt significantly and three it cannot meet Trump’s expectations on creating new jobs.
The positive side of Trump’s proposals is that individuals and corporations need to pay less tax and keep more money in their own pockets. In Trump’s 2016 tax plan, individuals earn less than $50 thousand and married files earn less than $100 thousand do not need to pay tax. They could save about 10 percent tax expense comparing with the current tax policy. Businesses in the United States pay no more than 15 percent on tax. According to Trump’s expectation, as companies have more money going back to business they will likely create more jobs. Because of the competitive tax rate, America would attract more companies to come and stay. Therefore, more jobs would create.
Those are the advantages from Trump’s tax plan. However, all the advantages cannot cover the three major disadvantages.
First of all, one tenth of one percent of the richest Americans get the most benefit from Trump’s tax plan; however; it…...

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