"While Trump promised to cut corporate rates to 15% from 35%, with the BAT now out of the picture, there aren’t enough business tax breaks that could be repealed to offset the fiscal cost, meaning such a move would increase budget deficits, the WSJ notes. Roughly, each percentage-point cut in the tax rate lowers federal revenue by $100 billion over a decade, so a 20-point cut would cost the government $2 trillion, according to the congressional Joint Committee on Taxation."
So will all individual Americans get the 42% tax reduction?
Silver Spoon is a genius,this won't cost anything.
Stupid Republicans get a Red MAGA cap.
"While Trump promised to cut corporate rates to 15% from 35%, with the BAT now out of the picture, there aren’t enough business tax breaks that could be repealed to offset the fiscal cost, meaning such a move would increase budget deficits, the WSJ notes. Roughly, each percentage-point cut in the tax rate lowers federal revenue by $100 billion over a decade, so a 20-point cut would cost the government $2 trillion, according to the congressional Joint Committee on Taxation."
So will all individual Americans get the 42% tax reduction?
Silver Spoon is a genius,this won't cost anything.
Stupid Republicans get a Red MAGA cap.
http://www.zerohedge.com/news/2017-04-24/trump-order-corporate-tax-rate-cut-15-load-2-trillion-extra-debt