As the dust settles after the 2024 election, tax policy emerges as a hot topic. Both major political parties—Democrats and Republicans—laid out their visions for the future. Let’s break down their ideas and explore how they can impact everyday Americans.

The Democrats' Blueprint

1. Corporate Taxes

President Biden wants to raise the corporate tax rate from 21% to 28% next year. This would mean businesses gotta pay more in taxes. The idea is to get more money for the government and help even things out for everyone. Some folks say this will hurt businesses, but others think it's needed to pay for stuff like social programs.

2. Capital Gains and Dividends

Biden's plan targets capital gains and dividends. Taxpayers with income in excess of $1 million will be taxed at regular income on long-term capital gains and qualified dividends. In addition, he would face taxes on the $5 million withdrawal of unrealized capital gains upon death. The goal? Making sure the richest contribute their fair share.

3. Tax Credits and Deductions

The Child Tax Credit would become fully refundable on a permanent basis, providing much-needed relief for families. Young children would receive an increased credit of $3,600, while older children would get $3,000. These changes, though temporary, aim to alleviate financial strain.

The Republicans' Counterproposal

1. Tariffs and Exemptions

Former President Trump's camp has floated the idea of replacing income taxes with tariffs. While this might simplify the tax system, it raises concerns about international trade relations. Trump also proposes exempting tips from income taxes—a move that could benefit service industry workers.

2. Steel, Aluminum, and Green Energy

On the trade front, Trump suggests maintaining current Section 301 tariffs while raising tariffs on an additional $18 billion worth of steel, aluminum, and green energy and medical goods. The goal is to protect domestic industries and jobs.

A Personal Perspective

As a small business owner, I've grappled with the impact of tax policies. While higher corporate taxes might strain my bottom line, I appreciate the focus on fairness and social welfare. On the other hand, tariff-based systems could disrupt global supply chains, affecting my business's operations.

Former President Donald Trump’s social media platform **Truth Social** has been the subject of intense and anticipated discussion. After years of struggle, it finally found its place in the stock market. In this article, we take an in-depth look at Truth Social’s journey, its research, and the implications of its public debut.

The way society works

Truth Social’s parent company **Trump Media & Technology** took a different approach to going public. Instead of a traditional initial public offering (IPO), it chose to "blank check" merge with a shell company called **Digital World Acquisition**. Shareholders of Digital World voted in favor of the merger, giving Trump’s social media venture access to the stock market.

Lackluster Launch and Shareholder Support

Truth Social has faced challenges since its lackluster design, which has led to limited sales of about $5 million as of 2021. However, loyal Trump supporters have rallied behind it, increasing participation in Digital World and have driven the stock up an impressive 145% since the beginning of the year to $6 billion.

Ticker Symbol: DJT

The newly formed company will trade on the stock market as **Trump Media & Technology Group**, using the ticker symbol **"DJT"**—Trump's initials. Ahead of the announcement, Digital World's stock price stood at $44, implying that the combined entity would debut with a value exceeding $5 billion.

Trump's Paper Fortune

Donald Trump's stake in the combined business comprises approximately **79 million shares**, translating to a paper fortune of about **$3 billion**. However, he won't be able to cash in immediately due to a six-month lock-up period for key shareholders after the merger.

Financial Crunch and Meme Stock Status

This move comes amidst a financial crunch for Trump, who aims to regain the presidency from Joe Biden in the upcoming elections. A New York judge recently ordered him to pay $454 million following a civil fraud case. His lawyers have deemed this payment a "practical impossibility" after 30 surety companies declined to cover it.

Digital World has also become a so-called **meme stock**, fueled by internet memes—some posted on platforms like Truth Social—encouraging retail investors to buy into it. Despite underlying fundamentals, the stock's rise has been remarkable.