#TrumpTaxCuts

Trump's tax cuts were launched in 2017 through the "Tax Cuts and Jobs Act," which is one of the most significant tax changes in modern U.S. history.

Key points:

Reduction of individual taxes: Decrease in income tax rates for most brackets.

Reduction of corporate taxes: From 35% to 21%, to stimulate investment and economic growth.

Benefits for small businesses: Additional cuts and support for investments.

Changes in deductions: Increased standard deduction and reduction of some other deductions.

Results:

Rapid economic growth initially and an increase in corporate profits.

Rise in federal deficit due to decreased tax revenues.

Individuals benefited to varying degrees depending on their income and place of residence.

Wide debate:

Supporters see it as a driver of economic growth.

Opponents consider it a boost to wealth gap and increased national debt.

In conclusion:

Trump's tax cuts have had a profound impact that remains a topic of discussion even today, especially with the ongoing developments in the U.S. economy.