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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