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Originally Posted by Guest
And apparently you don't grasp that all the economists that have reviewed this tax package say the huge tax cuts to the corporations and to the wealthy are adding to the debt. In simple terms, if a corporation makes a profit of $100 and pays 30% tax, the government will receive $30. If the corporation makes $125 in profit, and pays 20% tax, the government will receive $25.
Howard Schultz, executive chairman of Starbucks said: “If you talk about tax reform, which is in the news every minute of every day, this is not tax reform. This is fool’s gold.”
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The problem is that you're looking at everything as a zero-sum game. If, because of reduction in corporate taxes, more corporations decide to do business in the United States, there will be a much larger base that will feed the government.
And not all economists are saying that the plan is bad.
Here's an interesting little piece from CBS news.
Senate GOP - Breaking news: CBS This Morning asked three...