December 8, 2017

Salon: There’s a Reason Why “Corporate America” May Be a Stretch

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So when taxes of “American” corporations are cut, foreign investors get a windfall.

The Institute on Taxation and Economic Policy estimates that the Senate majority’s tax bill would give foreign investors a tax cut of $31 billion in 2019. The House bill would give them $50.4 billion.

That’s money that foreign investors would otherwise be paying into the U.S. Treasury.

By way of comparison, the combined tax cuts for families in the bottom 80 percent of the income distribution in the 30 states won by President Donald Trump comes to $39.4 billion, far less than the House bill gives away to foreign investors. Read more



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