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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: zzpat who wrote (68186)	4/24/2018 1:11:04 PM
From: TimF	Read Replies (1) \| Respond to of 358741

You know the corporate tax cut is creating $1.9 trillion of new debt right? No we don't know any such thing. $1.9 tril was the estimate for the tax cut bill, not for the corporate tax cut in isolation. In the short run the corporate tax cut could increase federal revenue as more coporate income becomes subject to the tax rather than hiding overseas. In the long run taxing productivity activity less produces growth. But being conservative and just going with a static estimate of the lost revenue doesn't get you to $1.9tril over a decade.

To: zzpat who wrote (68186)	4/24/2018 1:24:56 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 358741

<<<,$1.9 trillion of new debt right? How is that not corporate welfare>>> No, you are incorrect, reducing a tax is NOT Corporate welfare. If a timber company harvest timber on a National Forest piece of land and that harvest cost more than the government receives - THAT is a case of corporate welfare. Reducing corporate tax need not increase the debt one cent - if adequate loop holes (like the one explained above) are eliminated. But a very high corporate tax rate in itself puts our companies at a disadvantage. I'm the biggest deficit hawk on this board - but how we reduce borrowing is way complicated. I would tax a lot of things as I've explained before but it needs to be done wisely.