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Trump’s Tax Proposals Benefit Big Corporations assignment Research Paper
Trump’s Tax Proposals Benefit Big Corporations assignment
The United State has been ranked as the highest cooperate taxed country in the world with a 35% taxation, but this is expected to change if the elected president Donald Trump implements his proposal of decreasing taxation with 20%. Huge cooperate companies that have been paying very high taxes are expected to benefit from this proposal since their imposition will reduce with a considerable margin and thus increasing their profits. A research done by the WalletHub in 2015 found out that the S&P 100 cooperate companies were paying up to 28% as cooperate taxes, and this may have a significant impact on the quality of services provided by these companies as they strive to come up with cost-effective methods of production.
The Wallet hub research reported that the S&P 100 companies’ pay 44% more as the US cooperate taxes as compared to the international taxes paid by the same companies. This gives a clear indication that the United State cooperate taxes have been overtaxing the huge companies and thus discouraging them to venture into business. Trump’s proposal is expected to introduce a 10% tax that will be paid once by the companies from their earnings from foreign investments. After payment of the one-time fee, the companies will able to enjoy the foreign earning without being taxed, and this will make it easier for them to expand their business operations to other foreign countries (Global Finance Magazine par 1).
According to the magazine, General Motors is the only firm that has an advantage of paying a negative total tax rate valued at -34.3% because of its tax benefits. No other company is enjoying such tax benefits in the United States as indicated by the WalletHub report since the second lowest taxed ..............GET AN AFFORDABLE PLAGIARISM FREE COPY