Politics and taxes: how Trump’s win to change USA tax system

Politics and taxes: how Trump’s win to change USA tax system

27.11.2016 Analytics

The world has heard  enough discussions which concern the resonance Donald Trump’s win in the USA elections.  Everyone has the right to express their position. America  has done their choice. Now, when the post-electorial   ethereal has gone, it is the high time to speak constructively.

Benjamin Franklin, one of the founders of American Constitution,   declared: “Nothing is certain except for death and taxes.” What does say about it the 45th President of America? The answer we could find in the former candidate political program. As CNBS mentions, the promise to carry out liberalisation of taxation  mechanism in the USA became one of key the elements of a contradictory Trump’s victory. First of all, the representative of Republicans party offers to reduce the level of taxes to poor families. For the time being, families who have received up to 12, 6 thousand dollars per a year, have not to pay taxes at all. The new head proposes to increase such rate to 30 thousand dollars of common annual income. He plans to get rid of  4 of 7 obligatory taxes. Real estate taxes and investment incomes were excluded firstly. Now  family which have earned more than 35- thousand dollars per a year have to pay these taxes. The corporate tax on income is planned to reduce from 35% to 15% for wealthy Americans.

Hillary Clinton made the accent on tax increasing for big business representatives. She proposed to up the taxes on incomes for the wealthy population from 28% to 33%.

The time will tell how the radical intentions of 45th President of USA, one of the most influential states of the world, on common USA economy conditions. According to analysts view, the reform increases the amount of the state debt. It will reach a rate of 6 trillion dollars. However, the choice has been done. It is incontestable.

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