I wondered when Trump would stop telling the truth and start hustling. Trump wants to drop the corporate tax rate from 35% down to 15%. This is supposed to stop corporations from locating over seas in order to pay lower taxes.
On the surface, like all political ideas makes sense. The ideal rate for corporate taxes is 0%. Double taxation is a bad thing. There is a problem with that also. Corporations have in the united states have the privilege of using congress as a tool to rig markets and capture customers. Foreign corporations do the same thing but to a lesser degree. In addition the Supreme Court has seen fit to define corporations as human beings, given them the same rights as living breathing citizens. These rights are in addition to rights and privileges, corporations have but people don’t. A corporation can live for ever and have limited liability. A corporation cannot be put in prison.
Yes, everyone would benefit if corporations paid less tax, or none at all if they were not already extra granted rights and powers. A Tax rate of at least 35% is necessary to compensate society for the disadvantages corporation’s extra rights and privileges inflict on the rest of us.
Don’t mistake Donald Trump for a populist. He has an agenda.