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What's Trump's Tax Strategy from Corporate Cuts to Social Security?
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Subscribe18 DEC 2024 / ACCOUNTING & TAXES
President-elect Donald Trump has announced bold proposals to stimulate the US economy, including cutting corporate tax rates to 15% for domestically manufacturing companies while retaining the existing 21% rate for those operating abroad, and slashing taxes on investment returns, overtime pay, and gratuities. Despite Trump’s suggestions of offsets such as increased tariffs and spending cuts, there are concerns that these measures may fail to compensate for the potential $4.6 trillion deficit caused by tax reductions, as projected by the Congressional Budget Office (CBO), potentially exacerbating the nation's high fiscal deficit.
Donald Trump—the man, the myth, the headline—did it again. Last week, while returning to the New York Stock Exchange (NYSE), the president-elect stirred Wall Street with bold promises to slash corporate taxes and reinvigorate the U.S. economy. At a Time m...
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