THERE are two main reasons for a country to paw around in its tax code: to create more economic growth, or to repair a structural deficit. Any politician who wishes to quietly give money to friends or kill a troublesome programme will supply one of them. He will either say “businesses need tax certainty to grow” (meaning: “certainty that they will like the tax code”), or “we don’t have the money”. So as the Trump administration releases its tax plan on April 26th, there are only two questions to ask: whether it will speed up America’s current economic recovery, and whether it will begin to fill in the country’s long-term deficits. If the early leaks from the White House are any guide, it will do neither. According to the Wall Street Journal, the White House wants to reduce the top tax rate on pass-through businesses to 15%. “Pass through” means the business itself has no...Continue reading
Artigos Relacionados
- Labour hopes to cut net migration to around 200,000
- Tax break for businesses made permanent
- What the Autumn Statement means for you and your money
- Autumn Statement: Hunt denies tax cuts were pre-election giveaway
- Austerity warning for public services after tax cuts
- Barbie movie added £80m to UK economy and used 6,000 extras, Warner Bros says
- Interest rates expected to be held after small economic growth
- UK facing permanent higher taxes, IFS think tank says
- UK economy grew faster than estimated since Covid
- The deep rooted problem holding back the UK economy