Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Cutting the corporate tax rate to 20 percent, as President Donald Trump has proposed, would increase average household income by at least $4,000 a year, estimates in a White House study showed. The study by Trump's Council of Economic Advisers, released Monday, says that kind of wage growth would take several years to go into effect, but it could eventually reach $9,000 a year. Trump and congressional leaders last month proposed a framework for tax legislation that would cut the corporate income tax rate to 20 percent from 35 percent.Kevin Hassett, the head of Trump's CEA, blamed that disconnect on the relatively high U.S. corporate tax rate.In arriving at its estimates, the CEA sought to determine how average household income would have changed in 2016 if a 20 percent corporate income tax had been enacted in 2008, and phased in over time.It wasn't immediately clear how the CEA decided how much burden to assign to workers with regard to corporate taxes.
FOLLOW THIS ARTICLE