Anh Tran

Mr.Gaudard

AP Microeconomics

17 January 2018

CEC #1

Summary: Americans are warming to the Republican tax law. Mr.Trump signed

the tax law before Christmas (86% of Republicans approve of the law, but just 13% of

Democrats do). At the same time, it reduces unemployment, accelerating economic

growth, and a surging stock market have made Americans increasingly positive about

both their own finances and the overall economy. Overall, 42% of Americans believe the

national economy is better, and only 23% believe the economy has gotten worse.

However, most Americans said Mr.Trump’s policies affect the economy, besides that

only 38% said his policies had made it better.

Thesis: The author’s main point in this articles is mostly talk about Americans

opinion and statics of tax law. According to the article, he mentions that most Americans

still do not think they will see their taxes go down under the new law ( 41% of Americans

expect a tax cut this year, up from 33% in December ). Also many households will

receive a tax cut in 2018, although those cuts expire after 2025, etc.
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Critique: The articles has written bias towards tax law of Republican. According

the article, many analysts say that pay increases were more a result of the strong labor

market than the tax law, which cut taxes for businesses and individuals while eliminating

many deductions and credits, is not particularly popular. I agree with the author that the

cut law is not a good ideas in currently situation. He said “ .. the wisdom of a big tax cut

at a time when unemployment is already low, saying he worried that it could lead to

inflation. And he said he doubted that middle-class Americans would see much benefit in

any case.”

Applications: During class lectures and discussion, this kind of situation has been

brought up in our class. This article is nearly economic growth that we have learned

because the article is mostly about tax law effects economic somehow.