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Old 10-19-2017, 06:59 AM
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Default Re: I have a question about Trump's tax reform plan

Quote:
Originally Posted by Lumara View Post
I receive daily emails about the latest news coming from the White House, and this one paragraph made me question it:



I know the US corporate tax rate is too high, but don't understand how lowering it (which I believe should be done) will increase wages and salary by so much. Would this be because Trump assumes that the savings would be passed on to workers (which I don't believe will happen), or is there some other rationale, like maybe returning more manufacturing jobs here will somehow result in higher wages? Does anyone know? (I'm looking for intelligent answers from anyone who has any idea about this, not juvenile, snarky one-liners from those who seem incapable of anything else.)

I'd like to see individual income tax rates lowered, not just corporate ones. That would surely result in more disposable income for those who work to earn it.

While I agree with the administration that we need to lower the corporate tax rate to incentivise corporations to return their HQ's back to the US and to remove a reason for them to leave in the first place, I think that the claim of an increase in the average American's household income is nothing but bluster. I do believe that the average household income would increase, but to put a number out like that is akin to Obama claiming that the ACA would cut insurance costs by $2500.

I just wish that our politicians lived in the real world with the rest of us and have enough confidence in their policies to be honest about the net affects of those policies. To say that incomes would increase by $4000 to $9000 due to this policy is ludicrous.
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