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President Trump Proposes Tax Reform To Create Economic Growth And Jobs

Today, President Trump announced his plan to grow the economy and create jobs. The announcement revealed his general plan for tax reform. He did not give a detailed description of every aspect of the plan. Instead, the announcement was conducted today to introduce the concept of tax reform so that the public can gain an understanding of Trump’s trajectory for this nation. From what Trump has revealed to the public thus far, this is a step in the right direction. The need for individual tax reform was stressed throughout today’s press conference by Secretary of the Treasury, Steve Mnuchin, and National Economic Director, Gary Cohn. They explained that due to the complexity of the tax code, over 90 percent of Americans need assistance to merely file their personal taxes. There over 2,011 pages of explanation regarding Form 1040 alone. Under Trump’s plan, there will be zero taxes on the first $24,000 that a married couple earns. All tax deductions will be eliminated except for mortgage interest, charitable donations, and retirement payments. Dividend… Keep Reading

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