Trump’s new tax plan and how its effect society and economics... Please :) answer me

Trump’s new tax plan and how its effect society and economics...

Please :) answer me

Expert Solution

Trump's new tax plan (Tax cut and Job Act) has reduced the income tax rates, doubled the standard deductions and eliminated the exemptions. For corporate also, the tax rates have been decreased. For individuals, it will increase the net disposable income that is the result of paying less tax, getting more deductions, but not getting exemptions. This increase in disposable income will increase the purchasing power of the individuals and society and they will spend more. In economy, it will cause aggregate demand to increase and it will catered by the increased level of aggregate supply. As a result, new jobs will be created and the economy will grow. Further, it will also reduce the burden of government to spend all the time. So, government spending may be curtailed. Decrease in corporate tax also, will create positive supply shock and more investments will take place. It will also have a positive impact upon the economy and job market. So, society will also flourish.

Rahul Sunny answered 2 years ago

Evaluate Trump’s 2017 tax plan in terms of revenue collection. Do you think it might increase...

Evaluate Trump’s 2017 tax plan in terms of revenue collection. Do you think it might increase or decrease tax revenues? Why? What were your assumptions for your conclusion?

8. A. President Trump’s tax cut passed in December and the new federal budget has large...

8. A. President Trump’s tax cut passed in December and the new federal budget has large increases in spending, what type of fiscal policy (Expansionary or Contractionary) has occurred. Defend your answer. B. Since the Trump tax cut has taken effect what has happened to the deficit in the federal budget? Has it increased, decreased or remained the same? Use numbers to defend your answers. SEE QUESTION 5 URL 30 points ((Go to the following link to find the numbers....

Please answer the following. Its just true or false so grant me this please. The cost...

Please answer the following. Its just true or false so grant me this please. The cost loaded schedule acts as a basis for the earned value analysis (EVA) - (T/F)? The cost loaded schedule should include the summary from each draw, which is the total from column E and column F from each month's projected draw. - (T/F) Retainage should be deducted from the amount shown on the cost loaded schedule. - (T/F) To determine the cumulative percent complete for...

How does politics effect economics and economics effect politics? What's the impact of Covid-19 on international...

How does politics effect economics and economics effect politics? What's the impact of Covid-19 on international economics? Minimum word count: 300

Write a overview of the new tax plan

Write a summary of the new tax plan

Write an introduction of the new tax plan

required : An overview of the new tax plan.

How will carbon tax affect the forestry in Canada. Please elaborate your answer Please answer this...

How will carbon tax affect the forestry in Canada. Please elaborate your answer Please answer this in detail.

Economics question. Please answer Asap! Will provide thumbs up! The Shell Corporation has a 34% tax...

Economics question. Please answer Asap! Will provide thumbs up! The Shell Corporation has a 34% tax rate and owns a piece of petroleum-drilling equipment that costs $130,300 and will be depreciated at a CCA rate of 30%. Shell will lease the equipment to others and each year receive $41,300 in rent. At the end of five years, the firm will sell the equipment for $29,700. All values are presented in today's dollars. Calculate the overall present worth of these cash...

Question