Trump Tax Cuts Economic Effects on the US Explained | President Donald Trump | America #Trump

3 years ago
173

In 2017, President Donald Trump and the Republicans passed the Tax Cuts and Jobs Acts which cut taxes across the board but what the the economic effects on the US/America. Good thing I can explain. There are multiple facets to this act such as lowering the corporation tax rate from 35% to 21% as welas general reductions in income taxes. Unemployment per job opening is low, real median income has significantly rose. Is Barrack Obama or Donald Trump responsible for the strong economy before covid-19? How do low tax states fair against high tax states due to the salt reductions?

Sources:
New York Times Article:
https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.html
Unemployed people per Job opening:
https://www.bls.gov/charts/job-openings-and-labor-turnover/unemp-per-job-opening.htm#
Income rise in Trump’s first 2 years:
https://www.factcheck.org/2019/11/trumps-shaky-5000-boast/
Black and Hispanic Unemployment rate:
https://www.cnbc.com/2019/10/04/black-and-hispanic-unemployment-is-at-a-record-low.html
Longest Economic Expansion in US history:
https://www.forbes.com/sites/davidmarotta/2020/01/21/longest-economic-expansion-in-united-states-history/?sh=6fec6a2762a2
US record low unemployment rate:
https://markets.businessinsider.com/news/stocks/us-unemployment-rate-50-year-low-why-wall-street-dislikes-2019-12-1028744899#
The Hill Economists opinion article:
https://thehill.com/opinion/finance/368904-economists-agree-trump-not-obama-gets-credit-for-economy
NPR article:
https://www.npr.org/2018/09/12/646708799/fact-check-who-gets-credit-for-the-booming-u-s-economy
MarketWatch Trump tax cuts were a bust:
https://www.marketwatch.com/story/its-official-the-trump-tax-cuts-were-a-bust-2019-01-30
Vox Obamacare article:
https://www.vox.com/policy-and-politics/2018/2/26/17044440/gop-tax-cut-tax-reform-law-chart-regressive-rich-poor-graph
Debt Pete Buttigeg article factcheck:
https://www.factcheck.org/2020/01/buttigieg-gives-trump-too-much-blame-for-debt/
How much Americans saved during first year:
https://www.marketwatch.com/story/this-is-how-much-american-workers-saved-during-the-first-year-after-trumps-tax-reform-2020-03-03
Salt reductions article:
https://www.sacbee.com/news/politics-government/capitol-alert/article229585994.html
The balance Trump Tax Plan article:
https://www.thebalance.com/trump-s-tax-plan-how-it-affects-you-4113968
Forbes low tax state high tax state comparison:
https://www.forbes.com/sites/chuckdevore/2019/12/20/trumps-tax-cut-is-two-years-old-and-job-growth-in-low-tax-states-is-soaring/?sh=653d84654e71
Obama’s Job Growth:
https://www.forbes.com/sites/chuckjones/2020/02/07/obamas-last-three-years-of-job-growth-all-beat-trumps-best-year/?sh=29aeb1b66ba6

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