Trump's tax plans

[stpioc]

Some sensible analysis (below just the summary) from the outlines of the new Trump/Mnuchin plan

The case for slashing corporate tax rates is thin: U.S. companies are posting record profits, and what they actually pay (after tax breaks and loopholes) is in line with other high-income countries. Corporate rate cuts are costly: for example, President Trump’s proposal to cut the top corporate rate to 15 percent would cost more than $2 trillion over ten years. 

Most of the benefit would flow to high-income investors, and if such tax cuts were not paid for by reducing corporate tax breaks and loopholes, they could hurt growth and the majority of Americans by increasing budget deficits or requiring cuts to investments that help working families and the economy. 

Instead of slashing the corporate tax rate, true corporate tax reform — which addresses inefficient corporate tax breaks, loopholes, and the tilt of the tax code towards debt and foreign investment — would be more likely to foster growth.

Corporate Rate Cuts Are a Poor Way to Help the Economy and Most Workers — and Could Hurt Them | Center on Budget and Policy Priorities