As with his health care bill, President Trump's tax plan is overly ambitious, having made too many false promises, and is likely to fail, suggests Doyle McManus of the LA Times. His proposed tax cut for corporations is unlikely to spur job creation or salaries and will mainly boost owner and investor profits. Americans have realized this; most of them think corporations pay too little tax. However, the biggest hurdle is the need for bipartisanship to overhaul the tax code. Democrats are firmly opposed to Trump’s ideas as he is refusing to make compromises. The president will push through whatever reform he can, but it is unlikely to help the economy.
President Trump is offering a much-needed review of the tax system, which seeks to liberate small and large businesses from burdensome taxes, asserts Senator Roy Blunt in the Kansas City Star. By cutting taxes and regulations, Trump will make it easier for American entrepreneurs to reinvest their profits and grow their businesses. Currently, taxes are punishingly high. Reducing them will favor job creation and make American businesses more competitive on the global market. Particularly U.S. working families are in need of such cuts. The president’s tax plans will boost companies and create much-needed employment for Americans.