The GOP’s agenda on tax reform, cutting taxes to boost growth, would balloon America’s already enormous debt and hurt the economy, asserts Ruth Marcus of The Washington Post. It has been proven that money saved by companies due to lower taxes does not translate into economic growth. The US currently has a national deficit that amounts to 77% of its economy, which is projected to grow to 100% in 16 years. We need tax reform that generates a surplus and tackles this huge amount of debt. Republicans subsidizing the rich and well-connected is entirely counterproductive to getting America back on the right track.
America needs to review the way it taxes its companies in order to create significant economic improvement, holds Avik Roy of Forbes. The country’s growth has stagnated over at 2.1% between 2010 and 2016. Tax reform is needed to boost the country’s businesses. During Obama’s tenure, the energy industry was strongly hampered with burdensome regulations. Trump’s campaign to unchain oil and gas companies would generate huge revenues that the whole country could benefit from, starting with lower energy costs for everyone. By encouraging growth and investment, the GOP’s tax reform can bolster the US economy.