Republicans seem to find the idea of giving money directly to workers revolting.
But when it comes to corporations, they are more than happy to give trillions away.
And now a White House adviser is talking about cutting the corporate tax rate. Not 10% or 15%, but 50%.
There is a catch though, on paper at least: Corporations would have to move their operations back to the U.S. from overseas.
“White House economic adviser Larry Kudlow on Friday floated the idea of cutting the corporate tax rate in half for U.S. companies who bring their operations back from other countries.
‘Why not provide a 50% discount for the corporate tax rate if you’re moving from outside the U.S. to the U.S.?’ Kudlow told reporters at the White House, emphasizing that this was a thought, not a policy.
‘So, the rate is 21%. Why not try for a couple of years or longer, a 10.5% rate, which would make us extremely competitive and hospitable to new investments here?’
With the coronavirus pandemic sapping retail sales, the labor market and industrial production, President Donald Trump’s administration and lawmakers are eager to find ways to shore up the U.S. economy.”
For the rest of the story, visit The New York Times here.