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Taxes. Everybody hates them, right? Not necessarily true. Especially in our current political climate.
The Tax Cuts & Jobs Act was passed in late 2017 and much of it is impacting tax filers for the first time as they prepare their 2018 tax returns. This was legislation promoted by President Trump in an effort to cut taxes and stimulate the economy. Some of the impact was immediate, and some goes into effect over time.
In the last week we have seen rookie Congresswoman Alexandria Ocasio-Cortez and Senator Ed Markey release their “Green New Deal”. While it is simply a non-binding resolution (not legislation) it has gotten support from high ranking Democrats, some of who will running for President in 2020. While the cost of such a plan is not known, it would be in the trillions of dollars. This would require an enormous increase in the tax rate for all filers.
Find a recent (within the last 4 months) article on one of these subjects or something else related to taxes. Topics could include things such as:
Do the rich pay enough in taxes?
Does trickle down economics work?
The impact on taxes to small businesses?
Is there an alternative tax system that you feel would work better?
Post a link to your article, summarize it, and give your thoughts. The output of your work should be at least 1 page in length. Additionally, comment on at least 2 other discussion posts of your fellow students.
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