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Trump’s tax plan is good for business
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Trump’s tax plan is good for business

President Donald Trump’s tax plan aims to streamline Americans’ tax returns with three tax brackets and gives businesses a big cut.

On Thursday’s “The Morning Blaze with Doc Thompson,” Doc Thompson and Kal Elsebai took a look at the new tax plan and wondered why we can’t have real tax reform along with a government that spends far less.

In Trump’s new plan, the corporate tax rate would be cut from 35 percent to 15 percent. Among other cuts, it would end estate taxes and the alternative minimum tax. Despite Trump’s "Buy American" rhetoric, the plan does not include a border adjustment tax that would impose a levy on imports.

Another important factor is how much the government spends. The U.S. is nearly $20 trillion in debt and faces a growing federal budget deficit each year due to over-spending. Trump’s tax plan would likely expand the deficit and is short on details as to how the government will account for having less funding.

“It’s pretty simple; that’s good,” Doc said of the streamlined tax plan. “It could be much, much better. So hopefully they’ll realize that; I have no hope that they’ll actually make it better. … This is probably the best we can expect out of D.C.”

Doc called for even bigger cuts, insisting that America needs a flat tax rate.

“The more convoluted and complicated they make it means they get more taxes to spend,” Doc pointed out.

To see more from Doc, visit his channel on TheBlaze and listen live to “The Morning Blaze with Doc Thompson” weekdays 6–9 a.m. ET, only on TheBlaze Radio Network.

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