The GOP May Be Out of Touch on Social Security, New Survey Shows
Big changes are afoot in Washington. Having unsuccessfully navigated healthcare reform efforts during the spring and summer, Republicans have officially passed their tax reform bill and given President Trump his first major legislative win since taking office.
The thesis of the new tax law involves cutting the individual and corporate income-tax rates, as well as simplifying the U.S. tax code. Republicans believe that corporations having more money will lead to steady hiring, increased expansion and reinvestment, and higher wages for workers. And since consumption makes up around 70% of U.S. GDP, consumers having more discretionary income is viewed as a long-term positive for the economy.
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Source: Fool.com
