US Presidential Poll: Tall promises by Hopefuls elbow economy closer to tax-doom-loop

[...]from the 'trash can' and also other campaign speeches delivered prior to the 'ME(A)GA' debate, I could also gather a few tax-related insights which are worth examining from two perspectives - political implications and against the rich legacy of fiscal largesse. Even after t...

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Bibliographic Details
Published inTax India Online
Main Authors Kumar, Shailendra, Founder Editor
Format Trade Publication Article
LanguageEnglish
Published Mumbai Athena Information Solutions Pvt. Ltd 19.09.2024
Subjects
Candidates
Capital gains
Consumer behavior
Consumers
Employers
GDP
Geopolitics
Gross Domestic Product
Income taxes
Labor law
Pandemics
Political campaigns
Presidential elections
Small business
Tariffs
Tax rates
Tips & tipping
Voters
United States > US
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Summary:[...]from the 'trash can' and also other campaign speeches delivered prior to the 'ME(A)GA' debate, I could also gather a few tax-related insights which are worth examining from two perspectives - political implications and against the rich legacy of fiscal largesse. Even after the pandemic, it continued to spread, partly because of heavy demand for workers in the service industries like sit-down restaurants, ice-cream parlours, saloons, baristas, bars, food trucks, childcare, taxi drivers and many more. Mr Trump also wants to hike import tariff in the range of 10% to 20% across the board, and a punitive tariff of 60% on cheap Chinese goods to protect domestic industry. Besides new proposals, what is going to emerge as the biggest challenge for both the candidates is the basket of tax-cuts which Trump had done during his previous tenure, and their sunset clauses will come into effect in 2025.