In the universe where paying a slight bit less in your taxes causes a trillion dollars worth of future debt and causes your insurance premiums to skyrocket all so that billionaires can pay way less in taxes.
Why not leave the corporate tax rate at 35% and bring individual tax rates way down. Bring the highest personal tax rate down to 21% instead!
Originally Posted by StandinStraight
Here's the math and the real story, moron - that "trillion dollars" is what the CBO estimates will be added to the debt OVER 10 YEARS (versus current tax policy), assuming average annual real GDP growth of 1.9%. So yeah, if we remain stuck in odumbo's slow growth rut, the deficit will be roughly $100 billion higher each year. That's 1/200 of our current GDP. If we achieve average growth of 2.6% over the next 10 years, the tax changes will add nothing to the debt.
As for insurance premiums, the overwhelming majority of Americans have health insurance provided by their employers and are not subject to the ACA's individual mandate. If the mandate is repealed, many people who are subject to it will actually find themselves better off. It's a highly regressive penalty - 80% of the households paying it earn less than $50k a year.
Your mindless sputtering that the tax changes will "take from 98% of Americans" is a monstrous lie!
The reason the corporate tax rate needs to be lowered is obvious from this graph:
I don't have a problem with lowering individual rates at a later time, if feasible. The top rate is currently 39.6%. However, if you studied up on these matters you would know that slashing the top individual rate (especially dropping it all the way to 21%) would benefit the wealthiest filers much more than a lower corporate tax rate will. Is that what you want, SStupid?