Trump's tax reform raises many questions

News reports on US President Donald Trump's tax reform have focused on the tax cuts, but there is more to it than just that. Trump's tax reform can be divided into four main parts: tax cuts, simplification of the taxation process, fixing the loopholes in the system, and a shift toward a territorial tax system that taxes domestic income but not foreign income.

Trump's tax plan is aimed at cutting taxes while keeping the revenue neutral by fixing the loopholes in the system and shifting to a territorial, even a border adjustment tax, system.

Since Trump's tax reform is aimed at revitalizing the United States economy, the business community has welcomed it. The business community's positive response was reflected in the Goldman Sachs index, which dramatically increased after Trump made the announcement.