US President Donald Trump has included Ireland in a list of countries he singled out that have a better corporate tax rate than the United States.
But can the country afford to have taxes cut at this time?
President Trump's broad objectives include simplifying the tax code, to make it "simple, fair and easy to understand"; developing a "competitive tax code that creates more jobs and higher wages for Americans"; and lowering taxes for middle-class Americans "so they can keep more of their hard-earned paychecks".
The White House released an early summary of its tax reform plan this year.
The economy has been bright spot for Trump's troubled presidency, with unemployment rates falling and growth rates reaching their fastest clip in over two years.
"I don't want to be disappointed by Congress", he continued.
"I want to work with Congress, Republicans and Democrats alike on a plan that is pro-growth, pro-jobs, pro-worker and pro-American". "I hope it pans out".Читайте также: Google announces three third-party speakers with Assistant, plus LG appliance integration
"If President Trump's previous tax plans are any indication, the wealthy and big corporations will be the ultimate victor at the expense of the middle class". He cut taxes even though Democrats controlled the House. "They can pay their workers more, sell their products and services at lower costs and still make more money than their US competitors". "Not one vote. We got not one vote to try and fix health care", Trump said.
Donald Trump launched his campaign Thursday for tax reform.
"The President's plan would reduce both the individual and business tax rates, which will be particularly helpful to the middle class and small businesses".
If tax cuts are not offset by spending cuts or other tax increases, the US deficit will rise.
The President continues, saying he wants to provide tax relief to the forgotten families in the middle class.
Congress will have the chance to take up the tax debate when it returns to Washington next week.
The idea that the USA could gain a competitive advantage by lowering corporate tax rates below those of other developed counties is supported by many conservative groups.
"She's got to make that commitment", he said, later adding: "The Dems are looking to obstruct tax cuts and tax reform, just like they obstructed so many other things, including administration appointments and healthcare".При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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