Trump Tax Cuts: Economic Impact
The tax cut law of former President Trump (2017) aimed to stimulate economic growth in the U.S. Key points:
- Corporate tax reduced from 35% to 21%, helping businesses increase profits and invest.
- Adjustments to personal tax, easing the burden on middle-class households.
- Criticism: Increased budget deficit, primarily benefiting corporations and the wealthy.
While it promoted short-term growth, the long-term effectiveness remains controversial. American parties continue to debate the fairness of this law.