On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act. How does it matter to the companies and citizens?
Tax is one of the crucial parts of the country’s economic. Under the globalization, US tax policy might relevant to your life. The economic trends could affect you and the steps you might need to take so you can profit from it. Moreover, there are lots of data in the tax policies which could turn into some good data news. This week we will share some Trump’s new GOP tax cut plan data news.
What is the Tax Cuts about?
☞Trump’s Tax Plan and How It Affects You [Link]
The whole tax bill cuts the corporate tax rate from 35% to 21% and the top individual tax rate will drop to 37%, which used to be 39.6% in 2017.
The following chart shows the progressive tax rate before and after the bill, in one Table. We find that table is an effective way to display data with high density. It seems the tax will be deducted for everyone except for the lowest income bracket.