Question: State why you agree with the below statement (please elaborate) Statement One 1 The tax reform will benefit the average family because it put more

State why you agree with the below statement (please elaborate)

Statement One

1 The tax reform will benefit the average family because it put more money on their pocket. The increase in child credit, no penalty in health care and an increase in medical deduction and also the increase on the standard deduction are some of the changes that the tax reform include.

Statement Two

2 The new tax reform definitely benefits the average American family in the short term but not in the long term. While yes there are tax cuts (simpler brackets), bigger child benefits, double deductions, etc. There still is an emphasis on helping the wealthy in the long term which is not surprising.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!