To the editor: Thanks to Doyle McManus for laying out the facts of the proposed corporate tax cut. So if the tax rate is reduced, the products produced by a business may be priced more competitively, driving up demand and possibly profits. Lowering the corporate tax rate will also encourage companies to repatriate the cash they keep abroad. (“Top House Republican expects a deal to keep a limited state and local tax deduction,” Oct. 25)Texas has long boasted about its lack of an income tax, comparing itself to California which has such a tax. What Texas does not brag about is its real estate tax rate, which is nearly twice the rate of California’s.

Source: Los Angeles Times October 26, 2017 19:07 UTC