Trump’s Wreck of a Platform(Part 3: Tax Reform)
Like the other GOP runners, Trump has proposed a new tax code. He markets it as “simple” and “friendly” to the average citizen. However, Trump’s tax reform plans are hugely expensive as well as designed to give the most tax relief to the nation’s wealthy. While some believe that tax reforms must be made, Trump’s will only hurt our country.
First of all, let’s explain the current tax code. It’s broken up into several brackets, each with a different tax percentage. For example, someone earning $18,000 a year would have their first $9000 taxed at 10%, and the rest taxed at 15%. If that person happened to change jobs and now makes $50,000 a year, he or she would have to pay 25% on about $12k of his income as well. The system also subsidizes child-care and other costs of living. Account for several credits, which take away from taxes owed, and deductions, which reduce taxable income, and we see that America currently has a progressive tax system designed to make the rich pay more than the poor.
Trump’s Wreck of a Platform(Part 2: Conflict with China)
Trump does not like China very much. As well as accusing the country of stealing America’s jobs, he claims they manipulate the yuan, harming trade. Unfortunately, in his haste to create a platform for his campaign, he didn’t think any of it through. With a foundation of mistruths and fallacies, Trump offers a plethora of truly terrible ideas that have the potential to completely ruin America’s economy.
Trump claims that China’s trade policy gives America the short end of the stick. Surprisingly, he’s not wrong; Chinese laws make it difficult, if not impossible, for American companies to prosper in the country. With miles of red tape and strict regulations, the companies usually just find Chinese partners, which leads to a forced sharing of intellectual property. As sharing this information makes the probability of competition much higher, as well as essentially giving Chinese companies most, if not all, of the power in the relationship, American companies undoubtedly get the raw end of any deal.
Trump’s Wreck of a Platform(Part 1: The Wall)
The majority of voters, 70% to be more precise, dislike Trump for obvious reasons: he promotes violence and seems to commit hate-crime wherever he goes. However, there is more to the case against Trump; although the disagreement with him seems to be purely emotional, this several-part piece explains the (numerous) flaws of Trump’s platform from a more fiscal point of view. Since it’s the most significant, Trump’s wall, his biggest applause-grabber, will be analyzed first.
The wall isn’t happening. As much as bigots would like to curb the hordes of illegal immigrants supposedly entering America, the wall is fiscally irresponsible, to put it kindly. With all the criteria the wall must fulfill, including strong-enough material and timeliness of construction(Trump will probably want his wall built before he leaves office), the wall is estimated to cost tens of billions of dollars, compared to Trump’s paltry estimation of eight. While illegal immigration is a problem that should be addressed, it’s a minor one in these times, and taxpayer money could be better spent paying off deficit or being channeled to more pressing projects.