Research On The Influence Of American Tax Reform And Macro Tax Burden On Economic Growth

As a highly developed capitalist country,the implementation of the tax reform act of the United States will have a significant impact on the American economy and the world economic pattern.Since the 1980 s,tax practice in the United States has not only promoted the development of the free market,but also gradually become a long-term financial strategic choice,which has made an important contribution to the economic development of the United States to a certain extent.President Trump's tax reform is another large-scale tax adjustment since the Reagan administration.Therefore,it is of great theoretical and practical significance to study the tax reform in the United States and the relationship between macro tax burden and economic growth.This paper makes an in-depth study on the three major tax reform in the United States.First of all,it expounds the theories of tax and economic growth of Keynesian school,neoclassical comprehensive school,New Cambridge school,monetarist school,supply school,etc.,analyzes the mechanism of macro tax burden affecting economic growth,thus laying the foundation for theoretical analysis;secondly,it analyzes the three major theories of Reagan period,Bush Clinton period and Bush Obama period in detail The background,content and economic effect of tax system reform;thirdly,the paper makes theoretical and Empirical Analysis on the level of macro tax burden and economic growth in the United States,studies the economic growth effect of macro tax burden and the mechanism of macro tax's influence on economic growth by means of least square method(OLS)and vector autoregressive model(VAR),and decomposes these two factors by impulse response function and variance The transfer effect between variables is analyzed quantitatively.It is found that the macroeconomic tax burden and economic growth in different reform periods in the United States have different correlation,which can not be generalized.It needs comprehensive andobjective analysis and research.Finally,it analyzes and predicts the possible impact of trump government tax reform.Innovation:(1)The study found that the impact of tax reform on economic growth is different between short-term and long-term.Short-term macro tax burden has a significant negative impact on economic growth;long-term macro tax burden on economic growth will gradually weaken.(2)The macro tax burden affects the entire economic development level through the transmission of consumption,investment,and import and export.