Page 48 - Oct Nov 2017

Elite Investigative Journal
Donald Trump’s Tax Plan and Its Effect on the United States Nationally, Globally and Its Citizens, pg 48-57
©2014-2017 SYT Global, Inc.

Donald Trump’s Tax Plan and

Its Effect on the United States
P
Nationally, Globally and Its O

Citizens L

By Colton R Smith I
C
E

Donald J. Trump initially Let’s face it, there are not deduction and the 0% tax
proposed his tax plan of many people on this earth bracket are increasing B
cutting taxes for business- that think about the good some families earning low R

es and the middle class of their country before the incomes could experience U
while campaigning for the good of their own wal- no tax at all. T

primaries. In August he let. Trump’s tax cuts are A
revised his plan and added close to home and can The second group that L
many details including help the average Ameri- could experience a mas- I

Tax Brackets, Standard can. He proposes doubling sive tax break is multi- T
deduction changes, corpo- the standard deduction millionaires. Y

rate rates and eliminating and lowering effective “... the highest-income
the gift/estate tax. Further- tax rates across the board. 0.1 percent of taxpayers
more, Donald J. Trump’s This means that around (those with incomes over

plan could have an effect $8,000 for single filers $3.7 million in 2015 dol-
on the economy at domes- and $16,000 is completely lars) would experience an

tically and globally. In untaxed; combined with average tax cut of more
this paper, I aim to sim- the fact that most incomes than $1.3 million in 2017,
plify the effects of his tax will see a lowering of nearly 19 percent of after-

plan, on the individual, the effective tax rates, every- tax income.”(Nunns, Pg1)
United States and examine one will be paying fewer

some assumed outcomes taxes.(Fox, Pg. 1) Trump’s Some people compare
for the United States from system is very appealing Trump’s tax plan to an
a global perspective. across the board, but only escalated version of the

Individual two groups benefit greatly. George W. Bush tax
First, since the standard cuts. Another issue with

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