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Is Trump’s Tax Reform Bill Good For All Taxpayers?
in Politics

By walterbawalterba 55 Pts edited October 2017
Is Trump’s Tax Reform Bill good for all taxpayers? I believe that it is due to certain things being for all taxpayers and others possibly being more specialized for some. I believe that all taxpayers and classes would benefit from the Tax Reform plan or bill. Trump needs to work with all the parties to pass the plan or bill. His Tax Reform Bill could raise the GDP for America and its economy as well as help taxpayers.
comey_testifynorthsouthkoreajoecavalrynatbarons
  1. ?

    8 votes
    1. Yes
      37.50%
    2. No
      62.50%



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Arguments

  • I believe that Trump’s Tax Reform plan is good for citizen, the country, economy and companies due to the reduced company tax rate.
    northsouthkorea
  • Trump’s tax reform would hopefully boost the GDP.
  • WakeWake 123 Pts
    Every single tax reform bill that reduced taxes to the business class has increased the gross national products and increased the money in the pockets of the employed taxpayer.

    Of course you can be a liberal and lie about it. After all liberals lie - that's what they do.
    Oakchairbc
  • The new tax rate will definitely boost GDP, but to truly improve standard of living, I think taxes for the big super companies shouldn't be decreased. 
  • No, the upper class may get and advantage due to dedications and other taxes being excluded.
    DebateIslander and a DebateIsland.com lover. 
  • He's in the pocket of big business just like the rest of them. America is not a free country, we're a corporation.
    Fascism
    Pseudoscience: noun; a collection of beliefs or practices mistakenly regarded as being based on scientific method.

    Scientific method: noun; a method of procedure that has characterized natural science since the 17th century, consisting in systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses.

    https://www.gofundme.com/mwmvf-is-the-earth-flat
  • 1) Trickle down economics failed in Kansas[1] and Wisconsin[2] resulting in these two states having some of the worst economic performances in the nation. Kansas is currently in a recession because trickle down economics is so harmful[3].
    2) Economic growth was the best during periods of high taxation on the rich. The years when we tried trickle down economics are the years we had the lowest economic growth[4].
    3) The Trump tax cuts only benefit the rich. 70% of the cuts are given to the richest 1%. Only 5% of the cuts go to people who are not rich[5].
    4) These cuts for the rich would increase inequality and all the literature on the topic, including the stuff form the conservative IMF conclude that inequality hurts economic growth[6]. A 10% decrease in inequality resulted in the next economic recovery growth spell being 50% larger[7].
    5) Trump and Republicans are liars. Americas corporate tax rate is half that of other advanced nations[8]. This means there isn't even a theoretically benefit of cutting corporate taxes. Also historically corporate tax cuts result in less investment[9].


    [1]http://econbrowser.com/archives/2016/06/kansas-and-her-neighbors-gdp-edition
    [2]http://econbrowser.com/archives/2015/07/discussing-walkers-record-on-the-wisconsin-economy
    [3]http://econbrowser.com/archives/2016/06/kansas-in-technical-recession
    [4]https://www.americanprogress.org/issues/economy/news/2015/06/29/116130/new-data-illustrate-the-failure-of-the-trickle-down-experiment/
    [5]https://www.vox.com/policy-and-politics/2017/5/16/15642558/trump-tax-plan-rich
    [6]https://blogs.imf.org/2017/05/11/a-new-twist-in-the-link-between-inequality-and-economic-development/
    [7]http://motherjones.com/mojo/2011/10/study-income-inequality-kills-economic-growth
    [8]http://voices.washingtonpost.com/ezra-klein/2010/09/our_dumb_corporate_tax_system.html\
    [9]http://www.angrybearblog.com/2011/09/corporate-taxes-and-investment.html

    natbaronsFascism
  • Trump is attempting to do a mainly middle class tax reform. This would help all tax payers and corporations. Brackets are being cut down to 3 or 4 instead of 7 or 8. He is also getting rid of many taxes such as the estate tax.
  • Trump is not attempting to do a middle class tax break. Stop lying. 
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