September 1, 2017

CBS News Moneywatch: Can Trump’s Corporate Tax Cuts Help the Middle Class?

media mention

Fortune 500 companies now hold about $2.6 trillion in offshore cash, which leads to billions in lost federal taxes, according to the Institute on Taxation and Economic Policy. A set of earlier tax reform proposals from Mr. Trump would likely most benefit the richest 1 percent of Americans, the group added.

“Assuring working people that top-heavy tax cuts will eventually trickle down is not a sound way to make public policy,” wrote Steve Wamhoff, senior fellow for federal tax policy at ITEP, in a blog post. Read more