{"591094":{"#nid":"591094","#data":{"type":"external_news","title":"The Two Key Questions of Trump\u0027s Tax Proposal","body":[{"value":"\u003Cp\u003EIvan Allen College School of Economics Professor \u003Cstrong\u003EChristine Ries\u003C\/strong\u003E\u0026nbsp;wrote \u0026ldquo;\u003Ca href=\u0022http:\/\/amplifier.gatech.edu\/articles\/2017\/04\/two-key-questions-trumps-tax-proposal\u0022 title=\u0022The Two Key Questions of Trump\u0027s Tax Proposal\u0022\u003EThe Two Key Questions of Trump\u0026#39;s Tax Proposal\u003C\/a\u003E\u0026rdquo; for the Georgia Tech\u0026nbsp;\u003Cem\u003E\u003Cstrong\u003EAmplifier\u003C\/strong\u003E.\u0026nbsp;\u003C\/em\u003EApril 28, 2017\u003C\/p\u003E\r\n\r\n\u003Cp\u003EExcerpt:\u003C\/p\u003E\r\n\r\n\u003Cblockquote\u003E\r\n\u003Cp\u003ETax programs can be used to raise revenue for the government, redistribute income or encourage economic growth. The plan just released by the president\u0026rsquo;s economic team is designed to promote growth, growth and growth. \u0026nbsp;They project the new plan will enable the economy to reach a growth rate of at least 3 percent up from our current sluggish rate of about 1.5 percent.\u0026nbsp;\u003Cstrong\u003EChristine Ries\u003C\/strong\u003E, an economics professor at Georgia Tech, said the plan boosts income, innovation and job creation by changing incentives and reducing tax burdens on pro-growth activities. She said two questions remain:\u003Cbr \/\u003E\r\n\u003Cbr \/\u003E\r\nWill it work? And will Congress pass it?\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EAbsolutely. It always has in the past.\u0026nbsp;\u003C\/em\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003ECheck out past pro-growth tax reform programs of Presidents Kennedy, Reagan and Bush 43. Compare growth rates of states with low income tax rates to those with high rates.\u0026nbsp;\u003C\/em\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EMost people fail to understand the difference between tax levels and tax rates. \u0026nbsp;Pro-growth tax reform changes rates. The President\u0026rsquo;s plan lowers taxes on income, savings and investment to get the economy to produce more of all three. \u0026nbsp;This formula has been proven to increase economic growth substantially. \u0026nbsp;Also, over a short period of time, such programs result in big increases in revenue for the government.\u003C\/em\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EWill it pass?\u003C\/em\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EThe plan dodges two major bullets:\u003C\/em\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cem\u003EFirst, the plan provides a base level of income, $24,000 for a married couple, below which taxpayers don\u0026rsquo;t pay. \u0026nbsp;Without having to worry about deductions, their income tax filing is simplified enormously.\u0026nbsp;\u003C\/em\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Ca href=\u0022http:\/\/amplifier.gatech.edu\/articles\/2017\/04\/two-key-questions-trumps-tax-proposal\u0022\u003ERead full article\u003C\/a\u003E\u003C\/p\u003E\r\n\u003C\/blockquote\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":"","field_summary_sentence":"","uid":"27167","created_gmt":"2017-04-28 17:02:31","changed_gmt":"2017-04-28 17:04:06","author":"Rebecca Keane","boilerplate_text":"","field_publication":"","field_article_url":"","publication_url":"http:\/\/amplifier.gatech.edu\/articles\/2017\/04\/two-key-questions-trumps-tax-proposal","dateline":{"date":"2017-04-28T00:00:00-04:00","iso_date":"2017-04-28T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"65466":{"id":"65466","type":"image","title":"Christine Ries","body":null,"created":"1449176831","gmt_created":"2015-12-03 21:07:11","changed":"1475894579","gmt_changed":"2016-10-08 02:42:59","alt":"Christine Ries","file":{"fid":"193224","name":"final_portraits_mckitrick_001__main_public.jpg","image_path":"\/sites\/default\/files\/images\/final_portraits_mckitrick_001__main_public.jpg","image_full_path":"http:\/\/tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/final_portraits_mckitrick_001__main_public.jpg","mime":"image\/jpeg","size":8105653,"path_740":"http:\/\/tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/final_portraits_mckitrick_001__main_public.jpg?itok=p1l-9WAZ"}}},"media_ids":["65466"],"groups":[{"id":"1281","name":"Ivan Allen College of Liberal Arts"},{"id":"1282","name":"School of Economics"}],"categories":[{"id":"151","name":"Policy, Social Sciences, and Liberal Arts"}],"keywords":[{"id":"11161","name":"Christine Ries"},{"id":"169229","name":"Trump"},{"id":"174276","name":"Tax Proposal"}],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[],"email":[],"slides":[],"orientation":[],"userdata":""}}}