The proposed corporate tax cut by President Trump has been ruled
THE EFFECT OF PRESIDENT’S TRUMP TAX CUT ON GLOBALIZATION.
The proposed corporate tax cut by President Trump has been ruled by some critics as a bid to reduce his own tax. However, the advantage of the planned corporate tax reduction is quite remarkable and Its effect on globalization is note worthy. The last reform made to tax was in 2004 and the proposed reduction of corporate tax from 35% to 15% might be one of the best decision yet to be made. The corporate tax is a percentage of the profit made by a firm which is calculated with the constant tax rate after a deduction of the cost of goods and depreciation from the total revenue of the firm to give the amount legally owed to the government by the company.