Trump says he's open to raising the corporate tax rate to pay for middle class tax cut

[mystery-ak]

Trump says he's open to raising the corporate tax rate to pay for middle class tax cut
by Colin Wilhelm
 | November 07, 2018 01:08 PM



President Trump said Wednesday he would be open to raising the corporate tax rate that he spent tremendous political capital to cut in order to provide a bipartisan middle class tax cut.

“I would be certainly willing to do a little bit of an adjustment,” he said during a post-midterm elections press conference. “I would love to see a tax cut for the middle class.”

Trump's comments could worry his allies in the business community, who pushed for a corporate tax rate lower than the average for developed countries.

Republicans, including Trump, and third party groups in favor of last year’s law pushed back on efforts during the drafting process to lessen the reduction in the corporate rate in favor of deeper tax cuts for individuals.

In particular, the White House fought a provision from Sen. Marco Rubio R-Fla., to offset the cost of an expanded child tax credit by reducing the corporate cut in last year’s law slightly. Rubio had worked with Trump’s daughter and senior White House adviser Ivanka Trump on the provision. Several Senate Democrats also supported the change.

https://www.washingtonexaminer.com/policy/economy/trump-open-to-corporate-tax-rate-hike-to-pay-for-middle-class-tax-cut

[unite for individuality]

Try taxing AT&T.
On their $30 billion profit last year,
they paid ZERO income tax!
Corporate welfare!

[libertybele]

    ??? Cutting corporate tax rates is what ignited the economy and brought jobs back.  He may be open and listen to what the DEMS want, but they doesn't mean he's going to accept any of their ideas  especially if it means tanking the economy back to the Bammy days.  Trump has worked hard on the economy. I don't see that happening. 

[txradioguy]

Try taxing AT&T.
On their $30 billion profit last year,
they paid ZERO income tax!
Corporate welfare!

Stop with the Liberal talking points.

If that is true (that corporations don't pay income tax,) then why have a corporate tax? Surely, we'd be no worse off. We might actually do better...right?

[unite for individuality]

Stop with the Liberal talking points.

If that is true (that corporations don't pay income tax,) then why have a corporate tax? Surely, we'd be no worse off. We might actually do better...right?

It IS true that THAT corporation does not pay income tax,
and in fact, gets money FROM the U.S. government!

(In the form of "refundable tax credits" similar to the
Earned Income Tax Credit that low income individuals get.)

CONSERVATIVES point out that corporations do not really pay any income taxes,
their shareholders and customers actually pay the money.

My point is that AT&T, who owns about one fifth of the
"mainstream" collectivist propaganda media,
also gets VERY favorable tax treatment
from the government for which they shill.

IF we're going to have a corporate income tax
(which economists have good arguments for abolishing)
it should be applied equally,
not discriminatorily, as it is now being applied.

[Wingnut]

Try taxing AT&T.
On their $30 billion profit last year,
they paid ZERO income tax!
Corporate welfare!

Ah Geez.  Not this shit again.

[To-Whose-Benefit?]

The way to Pay for Tax Cuts, is with More Tax Cuts!

[ABX]

Ah Geez.  Not this shit again.

I miss the days when it was just the Democrats who were economically illiterate.

[edpc]

In other words, he lowered corporate income tax on the hopes they would increase hiring and employee salaries, but they went with stock buybacks instead, and now he’s mad.