Mnuchin: The upcoming Trump tax will propose decreasing Corporate Tax to 15%

They didn't build that

Border adjustment tax is not a part of Trump's plan.

Rich will be disallowed from using "pass thru".

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Just confirmed by Mnuchin on CNBC. Says it will be the largest overall proposed tax cut in history.

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It's good in theory, but the increase in new or expanded businesses because of this tax cut won't create enough new tax revenue to offset the loss taxes, meaning that either we will have to increase the debt or make cuts to make up for the losses.

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the loss taxes

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fricking NPR. Trump isnt worried about 10 million. If he is a crook like they say he will make much more

15%?

Now we might have a chance to compete with China's 15% corporate tax rate.

But the a-hole Democrats will demonize the plan as a tax break for the rich.

That will be 2-3% increase in the effective corporate tax rate if what they claim about cutting out loopholes etc is true.


I don't know why we don't simply eliminate corporate taxes altogether. Corporations do not pay them consumers do....it is merely a tool that corporations use to claim they are being beat over the head with....when in reality they pass whatever their taxes are onto consumers or they lose money and go out of business. No matter how much anyone would like to pretend otherwise production costs can't exceed revenues for long....as complicated as we like to pretend commerce is it really is as simple as buying low and selling high...

I think raising the effective corporate tax rate to 15% from its current 12-13% is a bad idea but I am pretty certain that most of you are convinced that the statutory rate is what corporations pay and it would be a 20+% cut. Ignorance is truly a bliss....

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You can't see the forest for the trees. This doesn't need to create or expand business to increase tax base/revenue. All that needs to happen is for companies to decide it now makes more sense for them to keep their money stashes in the USA instead of abroad and that alone would increase tax revenue, even with a 15% straight tax rate.

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Do the math. Let's say net taxable income is $1 trillion right now. At a 35% rate, that's $350 billion in tax revenue. Now let's say you lower the rate to 15%, and net taxable income rises substantially to $1.5 trillion. At a 15% tax rate, you're down to $225 billion in tax revenue. Basically, even with business expanding to impossibly high levels, you are going to collect fewer tax dollars with a huge tax cut.

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Let's try spending less money and see what happens.

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Did you see the uniparty's reaction to Trump proposed budget? They don't like it. Too much of a reduction in spending.

The immediate reaction by DC uniparty politicians to these type of tax cuts is, "how can we remain revenue neutral?" In other words, they want the tax cuts but also want current (with COLA) spending. The uniparty never considers reducing spending. NEVER.

That's why Protectionist Paul is proposing a 20% border tax on all imports.