The Donald Trump government initiated the largest revision of the U.S. Internal Revenue Code since the 1980s. The idea was beautiful: to stop the flight of jobs abroad, to reduce taxes for the middle class and thereby make its life better.

The key moment of the reform: reduction of corporate income tax from 35% to 21%. This plan by the U.S. Senate was approved in December 2017.

The Wall Street Journal in the summer of 2017, popularizing the Trump reform, cited before and after examples of how taxes are levied now, and what will happen after the introduction of the new Code.

Here’s one example:

Teacher Tom, receiving $50,000 and according to the current Code, pays $ 5,474 in taxes. After changes in tax legislation, his taxes will be reduced by $914 (17%) according to the White House plan and by $1140 (20%) according to the Senate plan.

The main achievement of Trump’s tax reform is the reduction of corporate income tax from 35% to 21%, but this is also criticized by some experts. It is believed that this could lead to a federal budget deficit.

And what happened in fact?

The edits to the final version of the document were made up to the last minutes before the vote and this could not end well.

For example, it turned out that by 2017 those who earn between $ 50,000 and $ 70,000 a year will be paying $ 4 billion more in taxes than they are now. While for those with incomes over a million dollars a year, taxes will fall by 5 billion.

What Trump’s Tax Reform Brought for the USA: 2 Years Later

Reducing the corporate income tax rate from 35% to 21% increases the chances of the United States “pulling” business from other countries. Prior to this reform, the United States did not perform well against the background of other OECD nations.

Although the US corporate income tax rate is NOW much lower than it used to be, rates in many countries (22 OECD countries) remain even lower. The new US aggregate corporate tax rate of 25.7% remains above the OECD average of 23.8%.

Despite the increased attractiveness of the United States as a country for doing corporate business, the decrease in the corporate income tax rate is cited as one of the possible reasons for the increased US federal budget.

Another positive aspect of the reform: a reduction in the tax on the return to the country of income from companies operating abroad. It dropped from 35% to 15.5% for cash and to 8% for non-cash. It is expected that this will allow Internet companies to move money out of offshore companies and return it to the United States at a reduced tax rate.

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Donald Trump, the President of the United States, has promised that Republicans in the House of Representatives will oppose the adoption of the bill proposed by the Democrats on the police. The corresponding post was posted by the president on Twitter on Sunday.

Trump said the project, which the Democrats want to pass in the House this week, will literally destroy the police. But Republican congressmen are likely to oppose it. Also, Trump added that we must protect our police because they ensure our security.

On June 17, the Legal Committee of the US House of Representatives approved a bill proposed by Democrats aimed at large-scale police reform in response to mass protests in the country. The initiative was supported by 24 congressmen, 14 were against. Now full of The House of Representatives must vote for the document.

The main provisions of this bill will be, first of all, the ban on law enforcement agencies to use methods of stranglehold during detention, as well as the creation of a national database to track various misdemeanors of police officers. Also, the bill stipulates that in some cases it will be forbidden to issue warrants that would allow police officers to enter a house without warning.

The greatest significance of the proposed reform is to increase the responsibility of law enforcement agencies, including for disorderly and violent actions against detainees.

On June 16, Trump signed a decree on police reform. It prioritizes the allocation of federal grants for law enforcement training to encourage law enforcement to use peaceful conflict resolution practices. At the same time, the authorities will consider complaints about the use of force by the police. The innovations are designed to improve the exchange of information between government agencies, so as not to hire people to the police without a full background check.

It all came as a result of mass protests across the United States and elsewhere in the world against police violence after an African-American, George Floyd, was killed in Minneapolis, Minnesota, on May 25, when police officer kneeling on Floyd’s neck.

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The trial began in January 2018, when a woman, acting under the pseudonym Jane Doe, was concerned about her safety in connection with a big win: on January 7, she received the Powerball jackpot at $ 559.7 million. On the idea of ​​demanding non-disclosure, the winner was given several cases when the winners became victims of scammers, robbers and even murderers. On January 23, Jane Doe filed a corresponding petition.

Her desire was contrary to some Powerball rules and jeopardized the very possibility of winning. However, the court took the side of the lucky woman, ruling that her safety is superior to the importance of the rules of the lottery. According to the court’s decision, the representatives of the plaintiff will receive for her a one-time payment of $ 352 million ($ 264 million after payment of all taxes).

As part of this amount, Jane Doe will share with the needy. The first donation will be $ 249 thousand, and in the future the woman plans to allocate up to $ 50 million for charity.

The heroine of this story – while the only owner of the jackpot Powerball in 2018. The nearest drawing of a super prize in $ 420 million will take place on Wednesday, on March, 14th.

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