Trump will cut tax rates and reduce regulations

On September 15, 2016, Donald Trump announced his economic plan to revitalize the economy, which, under Obama, has averaged less than 2% growth.  Trump is projecting a rate of growth of 4%, which would create a boom.  His plan is to reduce marginal tax rates on individuals and businesses, renegotiate trade deals, and reduce regulations on businesses.  He also proposed to allow companies that have funds overseas to bring the money back into the USA, to use in the USA, by paying a lower tax rate. The plan is similar to Ronald Reagan's, which lowered marginal tax rates and reduced regulations which in turn led to a boom. The basis of the Reagan and Trump plan is to reduce tax rates to allow individuals and businesses to use the money as they see fit instead of having the government spend the money.  Even though the tax rates are lowered, tax revenues increase, as they did under Reagan, because of the increase in economic activity.  Democrats always...(Read Full Post)