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How will the Senate Tax Bill affect America?

It's terrible for most of the country

It would re-vitalize our economy

 Getty: Alex Wong / Staff

The Republican tax bill will cause incredible damage to America's economy and the vast majority of its people, just to cut taxes for the rich, asserts Eric Schnurer of US News. It seeks to dismantle the liberal and economic policies that define America’s blue states. The GOP targets college loans and endowments, which would make an education harder to obtain. Subsidies would be taken from solar energy while being added for Arctic oil drilling. States that invest more in public schools would suffer more without deductions for state and local taxes. Republicans are not just imposing their economic values on the rest of the country, but cultural ones too.

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Congress’s latest tax plan is exactly what America needs, believes Larry Kudlow of National Review. Lowering the tax rate will result in a surge of investment that will lift up the whole country. Businesses, big and small alike, will benefit from seeing their costs lowered, making them more successful. Additionally, lower taxes will discourage tax avoidance. By one estimate, the US government would generate $25 billion of additional tax revenue in 2018 from repatriated assets. The additional profits from higher business growth would result in more tax revenue. This tax bill is going to fuel great economic successes for the country as a whole.

Keep on reading at National Review
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