Progressives Should Love and, in fact, Embrace the 15% Corporate Rate

A fifteen percent top tax rate for business and the repatriation of trillions of dollars of untaxed funds stuffed overseas is beyond good. And if there is a single President Trump tax proposal that should be embraced by progressives, this is the proposal they should embrace.

If corporate income is going to be taxed at 15% instead of 35%, corporate profits will explode. If corporate profits explode, the stock market should explode. Who are the largest holders of U.S. stocks?

Today, virtually every government pension plan is dramatically underfunded. These pensions have begun to squeeze state and municipal budgets and ultimately the required funding of these pensions will strangle the ability to provide public services in virtually every governmental organization in the United States. All services will be reduced including every public service, including police and fire. The thought of the tax dollars necessary to fund these pensions is absolutely mind boggling. The staggering amount of taxes needed would have to be paid through regressive taxes, sales taxes. There is no other source of funds that could make a dent in the state/municipal pension fund deficits….

Source: Progressives Should Love and, in fact, Embrace the 15% Corporate Rate – Hank Adler


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