LOL: Republican Tax Plan Will Raise Taxes on 50% of Americans

I thought it would be lowering taxes for most people?

Every tax policy proposal made by Republicans over the last 30yrs has been rooted in the bogus notion of the Supply-Side economic theory. Not to mention, Conservatives only care about the deficit when a Democrat is in the Oval Office.

Haven't we learned anything in the past 35 years?

Trickle-down economics DOES NOT WORK. The winners are those at the top. The "job-creators" do not create jobs just because they have a new truckload of cash. They create jobs when consumers have more money in their pockets to spend on products, that require more employees to assemble, distribute, etc.

No need to rehash an ECON 101 course. :-)

I always see your posts. Your job is very good. @davidpakman

am I surprised? of course not... this whole new revenue argument is so funny to me.

I will try to exit my echo chamber (its painful) and see how they twist this logic on fox.

Respectfully, a low corporate tax rate is great for small businesses and bad for big businesses. Small businesses and entrepreneurs still represent the vast majority of businesses in the US. Right now, big businesses spend money on teams of employees designed to lower their tax rate as low as possible (political lobbyists, accountants, tax lawyers, off shore bank accounts, etc) and the rate is so high that they make money off of those expensive teams that small businesses can not afford.

Just for ease of numbers, let's take an example of a big business at the current 35% rate:

Big Boy Business with $1,000,000 in revenue
$350,000 tax rate
"Tax Dodging Team" costs $100k
TDT lowers effective tax rate by 50% to $175k
Overall Tax + TDT = $250k

Now, look at it at a 20% rate:

Big Boy Business with $1,000,000 in revenue
$200,000 tax rate
"Tax Dodging Team" costs $100k
TDT lowers effective tax rate by 50% to $100k
Overall Tax + TDT = $200k

So why would they even bother if it's a wash at that rate? The lower the corporate tax rate, the less incentive you have to invest profits overseas or avoid paying the actual tax rate. I predict that this bill actually increases the income from corporate taxes since the incentive to dodge the taxes is minimized.