While Trump says the tax bill will cost him a fortune, an NBC analysis says the GOP tax plan would save Trump and his heirs potentially more than $1 billion through the repeal of the estate tax.
Americans for Tax Fairness say the tax plan encourages outsourcing, shifting more profits offshore. According to a number of independent analyses, it would not prevent corporations from sending jobs and profits overseas to boost their bottom-lines. Significantly, active income of U.S. companies earned offshore won’t be subject to U.S. taxes.
It is not true that tax cuts for wealthy individuals and large corporations will create jobs or boost wages. The Center on Budget and Policy Priorities concluded this “ is a poor way to help the economy....” and could hurt most workers. Large corporations use tax cuts to reward shareholders, CEOs.
Trump insisted that the GOP tax cut will be “great” for the working class. Numerous analyses say it would hike taxes on tens of millions of working class families. With corporate profits at the highest level in 85 years, do corporations need more tax breaks?
Concerned about how you will be taxed? Verify for yourself just what was true in the Missouri Trump speech.
Elizabeth Sempadian, Fresno