please give feedback in refence to the statement below Article link: https://www

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please give feedback in refence to the statement below

Article link: https://www.usatoday.com/story/money/2017/04/26/small-businesses-get-hefty-tax-cut-trump-plan/100941120/

“Small businesses get hefty tax cut in Trump plan”, is the article that first caught my attention while scanning through USAToday. With a lot of tax cut proposal information being released, small businesses have a chance of being strongly affected. The supposed proposal by President Trump would cut the current 35% corporate tax rate significantly down to just 15%. Gary Cohn, director of the National Economic Council, said “the stimulative effects of the tax cuts will spur economic growth and help make up for much of the anticipate increase in the deficit.” The article suggests this tax cut for small businesses will allow for these businesses to better compete with large corporations and encourage others to start small businesses.

I believe small businesses are important to our economy and always make it a priority to shop with small businesses over large corporations. Small businesses are great for the economy and allows for entrepreneurs to establish their ideas and create business from them. Tax cuts for small businesses will give people more reason to open small businesses which are a huge staple in our economy.

For me personally, I know that this tax cut could impact a couple of the small business I frequent (dry cleaners, etc.). Tax cuts could allow them to establish even more competitive rates with large corporations and still make more money. I generally try to shop locally and try to spend my money at small businesses. It’s a lot easier for me to give money to somebody when I can see the contribution benefit their lives. Hopefully these tax cuts will lower prices and encourage more people to open small businesses.

Explanation / Answer

It's a great idea from president Trump to reduce the corporate tax rates from 35 - 15 as it will help small scale business to compete with large scale business and by doing so it will bring new ideas in the economy and from that new small business will open resulting in filling the deficit.
This step will also prevent small business owners to move out of USA in search of other countries where tax rate is minimum.
With this tax deduction there will be capital gain and it will aim to get 3-5% economy growth. I believe small scale business are equally vital to economic growth along with the large scale business. The best effect of the tax cuts will increase economic growth and help make up for much of the anticipated increase in the deficit.

This tax rate will benefit the various organisations like Partnerships, Real Estates, LLC's and some large entities like Hedge Funds with decreased tax burdens. The reform will increase the small investments, spur the growth and create prosperity.

The reform will also lower the capital gain tax, eliminate the alternative minimum tax and lower down the 3.8 affordable care act surcharge on investments and business income and the latest termination of the estate tax, that leads to the savings of the top 1 of the individual tax paying world.

Small scale business uses labour intensive techniques. Hence, it provides employment opportunities to a large number of people. Thus, it reduces the unemployment problem to a great extent. It provides employment to artisans, technically qualified persons and professionals. It also provides employment opportunities to people engaged in traditional arts.
It provides employment to skilled and unskilled people. The employment capital ratio is high for the small scale business as it facilitates women growth.

Reduce tax rates will lower down the prices of products and services, that leads to the growth of small businesses.

But the bill gives benefits to wealthy Americans as well, who gets benefit from corporate tax cuts more than non-wealthy peoples.

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