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Republican Plan to Cut US Corporate Tax Rate from 35% to 20%

posted by martyb on Tuesday October 17 2017, @07:52AM   Printer-friendly
from the that-will-help-reduce-the-deficit,-right? dept.

An Anonymous Coward writes:

The White House and congressional Republicans are finalizing a tax plan that would slash the corporate rate while likely reducing the levy for the wealthiest Americans

[...] The plan would likely cut the tax rate for the wealthiest Americans, now at 39.6 percent, to 35 percent, people familiar with the plan said Monday. They spoke on condition of anonymity ahead of a formal announcement.

In addition, the top tax for corporations would be reduced to around 20 percent from the current 35 percent, they said. It will seek to simply the tax system by reducing the number of income tax brackets from seven to three.

[...] Republican senators on opposing sides of the deficit debate have tentatively agreed on a plan for $1.5 trillion in tax cuts. That would add substantially to the debt and would enable deeper cuts to tax rates than would be allowed if Republicans followed through on earlier promises that their tax overhaul wouldn't add to the budget deficit.

https://www.apnews.com/d7929cdd15c3437db07147d219b391c4

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  • (Score: 0) by Anonymous Coward on Tuesday October 17 2017, @08:17PM (1 child)

    by Anonymous Coward on Tuesday October 17 2017, @08:17PM (#583632)

    The Republican approach to life: "I got mine, screw you."

    The Republican approach to paying bills: "Let my neighbor's kids pay for it."

    The Republican approach to big government: "DIE BIG GOVERNMENT! DIE DIE DIE! NO MORE MONEY FOR YOU! DIE ALREADY!"

    The Republican approach to health care: "We demand death panels! Let them be run by an oligopoly and KEEP BIG GOVERNMENT OUT OF IT!"

    ...and then they go full retard:

    The Republican approach to defense: "Help me big government! The terrorists are attacking me! Protect me! Big government for ever! We love our big government protectors!"

  • (Score: 2) by tangomargarine on Wednesday October 18 2017, @02:49PM

    by tangomargarine (667) on Wednesday October 18 2017, @02:49PM (#583961)

    The Republican approach to big government: "DIE BIG GOVERNMENT! DIE DIE DIE! NO MORE MONEY FOR YOU! DIE ALREADY!"

    "...oh wait we control all the branches now? I guess nevermind. Smaller government means less taxes for rich dudes, right? Close enough?"

    But we already know "smaller government" just means "less of what the other party likes; more of what we like." Cutting education and healthcare and even more money for our ridiculously overfunded military.

    The Republican approach to health care: "We demand death panels! Let them be run by an oligopoly and KEEP BIG GOVERNMENT OUT OF IT!"

    After the bullshit about Republicans complaining about Obama death panels that term has lost all impact on me.

    --
    "Is that really true?" "I just spent the last hour telling you to think for yourself! Didn't you hear anything I said?"