"Extend the 2017 tax cuts for people—but not for corporations."
In my opinion as an economist, that is exactly backwards. Corporate tax reform was absolutely essential, and rolling it back would be disastrous. Before 2017, the US had the world's highest corporate tax rate, and corporations were beginning to relocate out of the US. More im…
"Extend the 2017 tax cuts for people—but not for corporations."
In my opinion as an economist, that is exactly backwards. Corporate tax reform was absolutely essential, and rolling it back would be disastrous. Before 2017, the US had the world's highest corporate tax rate, and corporations were beginning to relocate out of the US. More important, the US corporate tax system was out of harmony with the rest of the world, resulting in anomalies where some corporations were double-taxed while others escaped the corporate tax entirely. We can't go back.
The personal income tax cuts, meanwhile, were not even part of Paul Ryan's original plan. He was forced to add them as a sweetener to push the bill over the line. They served no purpose other than political pandering, and they are adding to the deficit with no offsetting benefit. Harris could sell this as old-fashioned fiscal responsibility - the very sort of thing that has been set aside by the last four presidents, and the sort of thing that the country needs to move on from.
"Extend the 2017 tax cuts for people—but not for corporations."
In my opinion as an economist, that is exactly backwards. Corporate tax reform was absolutely essential, and rolling it back would be disastrous. Before 2017, the US had the world's highest corporate tax rate, and corporations were beginning to relocate out of the US. More important, the US corporate tax system was out of harmony with the rest of the world, resulting in anomalies where some corporations were double-taxed while others escaped the corporate tax entirely. We can't go back.
The personal income tax cuts, meanwhile, were not even part of Paul Ryan's original plan. He was forced to add them as a sweetener to push the bill over the line. They served no purpose other than political pandering, and they are adding to the deficit with no offsetting benefit. Harris could sell this as old-fashioned fiscal responsibility - the very sort of thing that has been set aside by the last four presidents, and the sort of thing that the country needs to move on from.