The Republican tax plan would reduce American jobs by encouraging corporations to move production to other countries, argues Justin Miller of The American Prospect. The “territorial” tax system that it proposes would allow companies to avoid paying US tax on profits made abroad. This way, it would be much more beneficial to do business in another country with a lower tax rate than in the US. President Trump and the GOP, who presented their tax plan as a win for workers, have made very little effort to reduce the power that companies have over them. The tax bill seems to push companies to shift jobs abroad.
After years of economic stagnation under Obama, President Trump has ushered in a new era of growth and optimism, asserts Katie Pavlich of The Hill. In 2011, the former president blamed regulations on slow economic development, only to continue imposing them and shackling American businesses. Under Republican leadership, we have seen a rollback in regulations that resulted in a surge of growth. Around 138,000 manufacturing jobs have been created in 2017, after 34,000 were lost last year. In the last quarter, GDP has risen by almost hit 4%. Since Trump came into office the economy has boomed and jobs have returned.