Backfire on Trump’s tax cut

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Backfire on Trump’s tax cut

Edward Li, Writer

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Trump’s tax cut! What a great thing for the common people as the Feds cut the general taxes. That sounds like a beneficial thing to happened for everyone in this country, but is it? A sudden tax cut by the fed could be dangerous, too, and let me explain why.

Accounting to the CNN and multiple other news company, the Fed Reserve interest rate already hiked more than they were expected from the beginning of the year in order to put the U.S. inflation back to a health rate of increase. What that means for the majorities of the population would be a higher credit card bill to pay back.

The reason why Wall Street has to do this is not hard to understand. Think of it as a way to deal with unexpected inflation.  When the Federal Reserve cut the taxes, all of a sudden there are all these extra money going around. A good amount would be healthy, but a huge sudden amount like this time would very likely cause a inflation. The only way to keep the inflation under control would be finding a way to let people spend all these money. 

So next time when you see some policy that might look goodfrom the surface, think again! A sharp sword even have a double edges.

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