Trump’s Tax Proposals Benefit Big Corporations assignmentPlace Your Order Now
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Trump’s Tax Proposals Benefit Big Corporations essay
Trump’s Tax Proposals Benefit Big Corporations research paper
The United States has been ranked as the highest corporate-taxed country in the world with a 35% rate of taxation, but this is expected to change if the elected president Donald Trump implements his proposal of decreasing taxation by 20%. Huge corporate companies that have been paying 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 companies were paying up to 28% as corporate tax, 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 for the US corporate taxes compared to the international taxes paid by the same companies. This gives a clear indication that the United States has been overtaxing the huge companies, and thus discouraging them from venturing 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 the 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.........GET A PLAGIARISM FREE COPY