Economic Essay

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Term Paper Title	Economic Essay
# of Words	602
# of Pages (250 words per page double spaced)	2.41

Economic Essay

     My topic is the increase if the taxes which Clinton Administration is planning. This increase in taxes will target “multinational Corporations, end the favored tax treatment of extra long term bonds”, It will also raise capital gains taxes by “changing the rules for computing the cost basis of securities when they are sold at a profit”. What this will do is increase the taxes for the rich and will decrease the difference between the rich and the poor. The plan is intent on cutting the middle class tax and finance higher education (yeah right). The current tax law decreases the Federal Treasury Revenue and makes the economy less efficient or less competitive.
     The multinational tax would disallow multinationals to ‘assume’ half of their goods are foreign even if they are made in the US. Thus they could export to a country with low taxes and thus pay less taxes. This change would bring an increase of 7.9 Billion in corporate taxes over the next 5 years.
     This withdraws a lot of money from the economy and may thus decrease demand for goods, as people have less money to spend. The multinationals would employ many people and with and increase in their cost (tax is a type of cost) they would be forced to decrease the average amount of wages which the their employees received. This may take the form of decreased raises, or the laying off of some people. This would thus decrease aggregate demand for goods Nationally (as Multinationals would employ people in the US). It would also cause the companies to produce their goods in other countries and thus decrease the amount of people employed in the US. It would help the economy of other countries as those multinationals would move there. Thus the supply of g...

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