The Trump Tax Cut Signals “the War against American Business is Over”
US President Donald Trump’s proposed tax cuts will boost incentives for Americans to work, invest and save, good on Donald Trump.
“The War against business is over,” Larry Kudlow said in an interview Wednesday. “The biggest single missing ingredient in tax policy over the past 10 years, or even 15 years, is a competitive corporate tax code that produces business investment.”
Wednesday, President Trump’s top economic adviser Gary Cohn and US Treasury Secretary Steven Mnuchin revealed a plan to slash the federal income-tax rate to 15% for corporations, small businesses and partnerships.
The Trump Plan calls for a 1-time levy on about $2.6-T in US company profits kept in foreign countries, where they avoid 2X taxation. Most foreign profits would be exempt from US taxes, unlike the current system of taxing company income regardless of the location.
“These corporate tax cuts go directly to those points to make better rewards and incentives and make it easier to build a business for ten years,” said Mr. Kudlow, who helped to shape The Trump Campaign economic plan.
The US economy has grown by 3.2% a year on average since Y 1947, but never exceeded 3% during The Hussein Obama Admin, the 1st time in history.
“The greatest antidote to budget deficits is economic growth. We have proved that in the ’60’s, we proved that under Kennedy and Reagan and Clinton,” Mr. Kudlow said. “The reason deficits are so huge, we have not grown in 15 years. The revenues have not come pouring in. We are not getting enough new investment.”
This will be the biggest tax cut in America’s history, and do not bet against President Trump getting it done for The People and America’s businesses.
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