Trump seeks 15 percent corporate tax rate, even if it swells the national debt

[spanone]

Last edited Tue Apr 25, 2017, 07:58 AM - Edit history (1)

President Trump is pursuing a drastic cut in the corporate tax rate, a move that is likely to grow the national debt and breach a long-held Republican goal of curbing federal borrowing.

The president has instructed advisers to propose cutting the corporate tax rate from 35 percent to 15 percent, according to White House officials who said they were not authorized to speak publicly about the plan. The rate reduction — which independent budget experts say could cost the federal government $2.4 trillion over a decade — is larger than what House Republicans had proposed in their own plan.

White House officials said the president would make the announcement Wednesday as part of a release of broad principles to overhaul the tax code — days before a 100-day deadline Trump had given himself for achieving most top campaign goals. They are also expected to discuss changes to the personal income tax, among other aspects of the tax code, said two White House officials.

Trump has pledged that the tax cut in total would be the largest in U.S. history, and his advisers have said that the economic growth it stimulates would make up for any shortfall in revenue.

https://www.washingtonpost.com/business/economy/trump-seeks-15-percent-corporate-tax-rate-even-if-it-swells-the-national-debt/2017/04/24/0c78a35c-2923-11e7-be51-b3fc6ff7faee_story.html?utm_term=.e9535d31cf06

[tirebiter]

1. More corruption

And nothing but

[bettyellen]

2. Who is fool enough to go along with this bullshit?

[sarcasmo]

7. 90% of the Republicans and a couple of Democratic Senators.

[jmowreader]

3. Okay...

I want the top personal tax rate increased to 50 percent and language forbidding construction of "any border fortification on either the US-Mexico or US-Canada border if the corporate tax rate is lowered to below 34.9 percent" in the same bill.

[no_hypocrisy]

4. Corporations won't pay the 15% tax either.

Instead, they will want federal subsidies and hand-outs.

[mnmoderatedem]

5. that rumbling sound you hear

is the sound of the federal deficit getting set to explode

[WinkyDink]

10. Rats! I was hoping it was the sound of the tumbrels on their way to the guillotine!

[Vinca]

6. The corporate tax rate is a load of BS anyway. None of them pay 35%. Many pay nothing.

[Bettie]

8. If this actually happens none of them will pay anything

in fact, we will be paying them.

[WinkyDink]

9. I wonder if that would benefit anyone named "Trump" or "Kushner." Must ponder a while.