This is the most intelligent tax policy I have seen since Ronald Reagan’s and my initial thoughts make me believe that it is better than Reagan’s. It is a simple and logical plan that would give everyone the incentive to earn more instead of spending so much time and money trying to beat the tax man. I believe the impetus it would give to economic growth is immeasurable.
The summary of what I have seen on President Trump’s tax plan looks like it would greatly help almost everyone and especially the overall economy. If the U.S makes the corporate tax rates more competitive, businesses in the U.S would have a great incentive to keep businesses here and/or to move business back from overseas.
Foreign businesses would also have a greater incentive to move and build businesses here which is, after all, the biggest economy in the world. Regulatory relief also helps a lot. The lower the regulatory burden, the greater the likelihood that businesses will thrive and keep their prices competitive. If you lower the tax rate, get rid of a lot of the special interest deductions along with reducing regulations, businesses and individuals will become more productive, boosting the economy.
