Sunday, January 21, 2018

Trump won the reform of corporation tax

Yesterday, I attended a conference whose themes were business and finance. Some famous economists and analysts spoke about the perspective of the economic situation this year.

In a session, one speaker analyzed the economic policy of the Trump administration. Donald Trump, the President of the US is broadly criticized on his lude and discriminative speech. But the assessment of what he has achieved for the US economy is split among critics.

Some people blame him for he has done nothing valuable in the first year of presidency. Actually, the contents of his manifesto in which he promised before the presidential vote have almost not realized yet.

On the other hand, the speaker admired him to some extent. According to him, Trump conducted many relaxations of the business regulation. They accelerated business development in the US.

And, the most impressive thing is the reform of taxation. The US diet passed the bill for reducing corporation tax rate. So far, the US has the highest corporation tax rate in developed nations. It had made difficult for international companies to continue business in the US. After the enforcement of the tax bill, the rate will be decreased from 40% to 25%. The new rate is lower than those of almost every nation.

The ex-President Obama also promised to reduce the corporation tax rate. But he had failed to set the legislation. Democratic Party Obama belongs to is eager to enrich the level of social security. Thus, the party is not willing to reduce the tax income. In contrast, Republic Party is indifferent to social welfare. Trump was successful to persuade the government and diet for reducing the amount of national budget.

In this meaning, Trump had done a great job, while it is uncertain his decision will make the US great again.

By the way, the US diet failed to agree on this year's budget. Now, the public function is crippled for the money short. It frequently occurs in the US recent years. I am concerned about the citizens' life.

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