Trump cut the corporate tax rate from 35% to 21%. Guess where they’ll try to make up for that?
The Obama administration argued in 2012 for reducing Social Security benefits by recalculating the way cost of living adjustments are made.
A proposal under consideration at the Treasury Department would bypass Congress and use federal regulation to index capital gains for inflation, a $100 billion boost for high earners.
“The amount of corporate taxes collected by the federal government has plunged to historically low levels in the first six months of the year, pushing up the federal budget deficit much faster than economists had predicted.”
So much winning, for corporations.
Corporate income tax collections are near a 75-year low, as a share of the economy, after a new law reduced rates and allowed companies to deduct investments immediately.
Just another wealth transfer scheme. Steal from the poor and give to the rich #Trumponomics
The White House promised ’70 percent’ of the tax cut would go to workers. It didn’t.
No one could have predicted this. No one!
Windfall that was supposed to boost investments in labor and business is stoking $1 trillion in stock buybacks instead