Part of being a leader is looking out for the greater good of the team. In this case, our leader is President Donald Trump and essentially, the team is America.
On Dec. 20, the Republican party took their first major step after gaining full legislative control. They did this by passing a new tax bill expected to help the American people. This bill however, cost 1.5 trillion dollars.
Corporate taxes will decrease 21 percent from the present 35 percent, thereby increasing economic growth, creating jobs and raising wages. The corporate tax deduction is permanent; however, the income is more of a short-term solution. The average family has the potential, depending on size, to save up to $2,000 because of this bill.
For low income or working class families, this bill is very generous. The maximum that you would get for a child before was up to $1,000, it’s now $2,000. This is one of the greatest terms of the bill that is supported, especially the ones who are directly benefitting from this.
The left isn’t okay with these tax cuts. Democrats have formed accusations such as “the Republicans are giving a gift to the corporations and the wealthy while driving up the federal debt in the process,” according to a New York Times article. This is severely untrue because our President would not pass something if it was not meant for the well being of Americans.
People like Nancy Pelosi, the minority leader of the United States House of Representatives, have said this bill is “simply theft– monumental, brazen theft the American middle class and from every person who aspires to reach it.”
Pelosi is severely misguided, and she has a history of not supporting anything that Trump does, such as the wall. Pelosi, along with many other Americans who do not support this bill should understand more about the bill before speaking out solely on its flaws.
The main problem is the people who do not fully understand the extent of this bill and will not approve it just because they do not know enough to approve of it. They do not understand that this bill is meant to help, not hurt, Americans.
Before it arrived on the President’s desk, however, it had to be passed by Congress. The vote on this bill was 227-203 with 227 representatives supporting this bill. It passed. Factually, not one Democrat voted for this bill. There were only 12 Republicans who voted against this bill and of the 12, 11 of them were from a liberal state, California.
The reason Californians are against this bill is because larger states, such as California, can be hit pretty hard if this bill doesn’t do all that it’s expected to do. Specifically, this bill bill would impact California by limiting the deduction for state and local taxes to only $10,000.
Corporate rate of tax as well as Americans will benefit greatly from this bill and it will bring great economic growth for the United States. If more people would be just a little more open minded to new things, this bill could have much more success.