Wednesday, December 27, 2017

We Either Don't Know or We Don't Care (Not Political)

The Congress just passed the 'most sweeping' tax reform in a generation according to the #1 fan of the legislation. The Congress said that the economy would grow because corporation's tax rate would drop from the current 35% to 21%.

Liar Liar pants on fire.

So I Googled "What is the federal tax rate of a big corporation. So what do you think the answer is???

Some corporations pay 21% but a vast majority pay ~12% to 13%.

Don't believe me? Read the report yourself:

https://itep.org/the-35-percent-corporate-tax-myth/

So let me understand this:
1. Corporations already pay less than the "New" tax law.
2. Citizens of NY, NJ, CT, MA and CA are going to pay more tax under the "most sweeping" tax reform in a generation.

The Congress must truly think that the American people, their bosses are fools.