Tuesday, May 2, 2017

American Tax System Makeover


After years of rising tax rates and intensifying frustration among individuals and corporations, it appears the American tax system is finally getting the makeover it needs. President Trump unveiled a tax plan which, at its core, will grow America’s economy. By slashing corporate and individual tax rates, this plan will encourage more business to be done in our great country and result in more money in all our pockets. Under the current tax system, corporations are taxed at some of the highest rates in the world. This has discouraged them from reporting profits in America; and as a result, $2 trillion have been stashed abroad. In the new plan, both by decreasing the effective corporate tax rate and by applying a one-time amnesty tax rate for collecting offshore profits, corporations will begin doing business again in America. [more...]

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