Capitalization and Corporate Tax Cuts for the Rich

Source: American Institute for Economic Research
by Gary M Galles

“For decades, it seems that every tax rate cut has been denigrated as a tax giveaway to the rich at others’ expense. President Trump’s corporate tax rate cut was no exception. And the calumnies cast against those tax cuts are now being recycled in an effort to justify reversing them. Such attacks are built on several faulty premises. They rely on a zero-sum view of the world in which gains to some imply harm to others, rather than the positive-sum reality of voluntary arrangements. They assume corporation owners capture virtually all the benefits of corporate tax cuts, when in fact workers are the greatest beneficiaries of changes that increase investment, productivity and wages.” (05/22/21)