April 24, 2017
Trump Tax Proposal: President Delivering for Corporate Class
Statement of Robert Weissman, President of Public Citizen
Note: President Trump is likely to seek major cuts in the corporate tax rate at the risk of astronomically growing the nation’s budget deficit and its national debt, according to published reports. Trump instructed advisers last week that he wants the corporate tax rate to be lowered from 35 percent to 15 percent.
President Trump’s true colors are revealed: He’s working for the corporate class and no one else.
His tax plan is a gift to the corporate class of unfathomable scale – a $2 trillion tax cut with unknown revenue offsets. With CEO pay soaring and corporate profits at historically high levels, he proposes to slash taxes on giant companies without regard to the impact on regular people.
Notably, the Trump proposal would apparently slash tax rates for corporations, without touching taxes for real people, let alone with a focus on working Americans.
It will leave America poorer, more unequal, and less able to invest in public priorities.