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Stats: 2,233,890 members, 4,889,128 topics. Date: Thursday, 25 April 2019 at 02:58 PM
|Are US Tax Cuts Really Helping Economy? by kerryvienne: 8:52pm On Mar 29|
I just came across a news article which shared that Trump administration is going for a tax cut to fuel the growth of economy.
The officials, on the other hand, are disagreeing to this. They believe in the long run, this action will not be helpful. Is anyone here good at economics and can help me understand how this is possible?
|Re: Are US Tax Cuts Really Helping Economy? by Warship: 10:14pm On Mar 29|
Calvin Coolidge is one of US greatest president whose tax cuts, lead to economic growth and prosperity.
The fastest way to prosper a society, is to;
1) increase the citizens incomes.
2) reduce the citizens expenses.
3) empower each citizen to produce more cheaper and quality goods & services.
Taxes are part of citizens expenses that are income to the government.
When citizens expenses increase and incomes reduce, with time, the economy do stagnant leading to a poorer society and underfunded government.
In Summary, Trump's tax cut will reduce the expenses of the US citizens therefore, freeing more money for savings, lending, investment, etc which are instrumental to economic development and prosperity.
Initially, the revenue of the US govt will nosedive but if the freed up tax is reinvested by the citizens, it will generate more revenue for the government than previous revenue.
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