Fiscal policy is a series of compromises. The Trump administration and congress passed a new tax law. In an essay form, describe the main components of the Senate Bill and the House bill (Generate a table) that led to the tax law and discuss the compromises that were made to reconcile the two bills. Additionally, evaluate the implications of the law on the following:
- Not for profit organizations
- Rich and poor individuals
- Economy including the deficit-should we worry about the deficit? Explain
What are the underlying assumptions of the law?
Should the bill have been passed into law? Explain.
How does the law align or not align with social justice?