President Trump’s latest proposed tax cuts are unlikely to further benefit the economy and would disproportionately benefit American’s rich, asserts Binyamin Appelbaum of The New York Times. The economy isn’t in need of stimulus, it’s already growing at high speeds, or “roaring” in Trump’s own words. In fact, examples from the past show that the tax overhaul the president is planning is likely to boost America’s already heavy debt. It also plans to eliminate the estate tax and alternative minimum tax, which would profit the wealthy. Their purpose is to reign in tax avoidance by the rich. This tax plan is counterproductive and unnecessary.
The Republican tax plan would simplify America’s tax code while benefiting families and encourage economic growth, asserts National Review’s editorial board. The current U.S. corporate tax rate is higher than in any other advanced country. All businesses, big and small, would benefit from it being lowered. It would also make America far more attractive for foreign investors. Together, these factors would spur the economy and lead to better wages all over the country. Child-credits are likely to be doubled, which would support the many families in America’s middle class. Trump's ideas for tax reform are intelligent and much-needed.