Changes

=Republicans=

*[https://jeb2016.com/policy-tax-plan/?lang=en]“They are responsible for the slowest economic recovery ever, the biggest debt increases ever, a massive tax increase on the middle class, the relentless buildup of the regulatory state, and the swift, mindless drawdown of a military that was generations in the making.”- Jeb Bush on the Obama Administration [http://time.com/3921956/jeb-bush-campaign-launch-transcript/]

*Claims that Obama’s administration increased taxes, so we need an overhaul of tax code

**businesses deduct new capital investments

*[https://www.bencarson.com/issues/tax-reform]claims that USA has the highest corporate tax rates in the world at 35%, but this isn’t true. Japan has the world’s highest tax rates at 40% on income, 37% on domestics, and 38% for multinational corporations. Further, the average US company pays around 23% tax after deductions and MNCs pay 28% on average. This puts the US as the second highest corporate tax in the world.[http://www.forbes.com/pictures/gg45ehmhi/hey-mister-tax-man/]

*Claims current tax system discourages entrepreneurship and investment and inhibits growth of the economy

**double taxation on capital gains: very controversial topic, some say that lowering it will encourage investment in companies that are more risky but also putting forward progressive technologies; others say that the reduced tax would largely benefit the wealthy[http://www.wsj.com/articles/how-should-capital-gains-be-taxed-1425271052]

https://d70h9a36p82zs.cloudfront.net/Ccpres2016/base/assets/1-0-1/production/Chris-Christie-TheEconomy.pdf

Tax reform: