The above list is what is presently garnering the most media attention and there’s little there or me to argue against. I am comfortable calling it rather Reaganesque in both scope and substance, and living in an America that mirrors the Reagan-era economy would be a wonderful thing. The Trump plan is perhaps the single most pro-growth comprehensive tax reform proposal we have seen in quite some time and a wonderful departure from the no growth/low growth Obama economy that millions are currently suffering from.
Here is where the Trump tax plan moves into the realm of truly unique (genius perhaps?) and pro-American jobs. He is proposing a one-time tax on overseas profits that would be applied to an amount that now exceeds two TRILLION dollars. Companies would have a 10% tax applied to those profits, but several years in which to pay it. The end result would be much of that money would then return back into the United States instead of remaining offshore free from U.S. tax law. And when that money returns, so too will a far greater corporate investment into the American economy which will no doubt create JOBS-JOBS-JOBS, particularly when you combine the above scenario with Mr. Trump’s proposed 15% corporate tax limit. It would be a historic one-two economic punch not seen in generations and would allow the United States to re-emerge as a place that actually makes things and provides near-limitless prosperity potential for those who call this country home.
Not only would American companies be returning in droves to do business once again inside of the United States, but foreign corporations would be doing the same. We could realistically see a U.S. economy growing annually at rates of five or even six percent – millions of new jobs, millions of people moved off of government subsidies and living proud, self-sufficient lives that contribute to the betterment of society.
The Trump tax plan is also the single most pro-Middle Class proposal voters have had put before them by any of the current candidates running for president – more high wage jobs that then result in a lower tax burden meaning families would have more money in their own pockets to spend as they choose, not as the government mandates. And therein lies the foundation of the Trump plan – an emphasis on the individual at the expense of Big Government, again a very Reaganesque concept and a direct contradiction to the Obama mentality that believes Big Government is both worthy and wise and thus should be fed with an ever increasing amount of your tax dollars in order to sustain its power over you.
Lower taxes. More jobs here in America. Greater freedom.
I rather like the sound of that.
What say you?
__________________D.W. Ulsterman is the author of several best-selling titles, including the just-released RACE WARS series:
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