Question

Find an article about the current proposals and actions being taken by the Trump administration. Summarize the who stands to gain and to lose.

Answer 1

According to Trump, the tax plans had some simple aims: to spur business investment by cutting corporate taxes, give middle-class America a tax break and simplify a byzantine tax system. It hasn’t proved quite so simple, or palatable. With two versions of the bill now under discussion in Congress, the final shape of the plan is still unclear but some losers and winners are emerging. The clear winners? Rich people and corporations. The clear losers? Poor people, the vulnerable. And America.

Trump’s plan would cut the corporate tax rate from 35% to 20%, the lowest point since 1939. The idea is that lower taxes will allow business leaders to increase capital investment and create more jobs. But the fact is that most US corporations pay far less than 35% tax already, many of the most profitable pay nothing and lower taxes have not been shown to create jobs. There is also little evidence that the current system is harming business given that both stock markets and corporate profits are at record highs while employment is at lows unseen since the turn of the millennium.

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