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Trump’s tax plan for corporations

May 3, 2017
Lehigh Acres Citizen

To the editor:

I will try to describe what is put forth as the president's plan as presented. It is a plan not fully developed.

- Eliminate the alternative minimum tax (AMT): One of Trump's tax returns showed that he paid $31 million. Of course this deletion is - Advantage TRUMP.

- Eliminate the inheritance tax: I am sure that this too will benefit Trump's heirs - Advantage TRUMP.

- Cutting the Corporation tax rate from 35 percent to 15 percent: Corporate interests claim we have the highest rate in the world. Actually the facts show the 35 percent is not correct, 27 percent is correct. The developed countries in the world average is 23 percent. So why not make U.S. rate 20 percent inasmuch as this plan has absolutely no method of paying for these tax cuts. It is suggested that future job growth will offset some of these reductions of tax income. Obviously, these will increase our deficit and our debt in the interim - Advantage TRUMP.

Side note, only 30 percent of corporations pay taxes at all, for a whole variety of reasons. There is enough copy to address Trump's proposed tax cuts for "We the People" in a future letter.

President Trump claims this to be the greatest tax reform ever. I choose to be a doubter!

Joan Patterson

Lehigh Acres

 
 

 

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