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President Trump's Tax Plans
Are Good for ALL Americans

President Trump’s tax policies improve life for everyone, not just "the rich": They directly benefit the middle-class, promote economic activity, and reduce the amount of time citizens must spend to pay taxes. They seek long-run solutions and recognize that the economy is a dynamic market in which tax cuts have positive ripple effects for huge numbers of people.

Cutting back onerous regulation reduces business expenses and helps everyone who works or buys.

Perhaps the most significant and controversial aspect of Trump’s plan is its acknowledgement that boons for business help people of all income levels. Trump's tax plan caps the small-business income tax at 25 percent, allows businesses to write off capital investments as expenses, and cuts the corporate tax rate to 20 percent from its current 35 percent (the highest in the first world).

Cutting business taxes helps ordinary people. Businesses aren’t faceless things: they’re owned and run by human beings.

Cutting business taxes helps ordinary people. Businesses aren’t faceless things: they’re owned and run by human beings, who hire people, who together produce goods and services that help other people of all income levels. In the real world, businesses must pass the costs of taxes to employees and customers. More than 75 percent of corporate taxes fall on workers in the form of lower wages.

Cutting the corporate tax rate creates powerful and beneficial incentives: It encourages businesses to come to or stay in the United States, and it reduces incentives for tax evasion. In the long run, the benefits of these policies pour into the middle- and lower-classes through higher wages, increased employment, and better products.

Lower taxes for the wealthy doesn’t hurt the middle class. The opposite is true. It promotes upward mobility and stimulates growth as the wealthy invest and spend their money.

Trump’s plans do more than that. They double the standard tax deduction and promise to increase the child tax credit. They put pressure on congressional committees to work on “additional measures” to ease the middle-class tax burden, and create incentives for work, higher education, and retirement security. All of these are good, decent things. And yes, eliminating the death tax on property and lowering income taxes across the board means the Trump plan will benefit the wealthy as well -- but others will also be helped, like hard-working family farmers.

And it doesn't matter if rich people get tax savings too.

Easing the tax burden on the wealthy only bothers those with a zero-sum mindset who believe taxes are a way to divvy up a pie. But that's the wrong way to look at the economy. Lower taxes for the wealthy doesn’t hurt the middle class. The opposite is true. It promotes upward mobility and stimulates growth as the wealthy invest and spend their money. By reducing taxes on the wealthy, Trump’s tax plan will spark innovation that will raise standards of living for the poor. Our concern shouldn't be how rich the rich are, but how rich the poor are. Under Trump's policies, the poor will get richer.

By simplifying the tax code, slashing its seven brackets to three and cutting out itemized deductions, Trump’s plan will give people their time back. Think of how many billions of hours we spend slaving over our tax forms.

Trump’s proposals promote work and economic activity and reduce heavy burdens on American citizens of all incomes. They are good and decent proposals that will help millions of ordinary people — and they deserve our support.