Trump Tax Cuts: A Bold Economic Gamble
The Tax Cuts and Jobs Act of 2017, signed by President Donald Trump, was a seismic shift in U.S. tax policy. Slashing corporate rates from 35% to 21% and lowering individual income tax brackets, it aimed to ignite economic growth by putting more money in the hands of businesses and consumers. Proponents hailed it as a catalyst for investment, job creation, and wage increases, citing GDP growth and record-low unemployment in 2018-2019 as evidence. Critics, however, argue it disproportionately benefited the wealthy, ballooned the federal deficit by $1.9 trillion over a decade, and failed to deliver promised wage hikes for the middle class. The temporary nature of individual cuts, set to expire in 2025, has sparked debate over their renewal. As economic inequality and fiscal concerns linger, the Trump tax cuts remain a polarizing experiment—celebrated for spurring growth, criticized for uneven gains.
