The president has previously proposed cutting the corporate tax rate from 35 percent to 15 percent — a move budget experts project would cost the country $2.4 trillion over a decade. Economists have long clashed over whether tax cuts lead to jobs growth. But some argue lowering the country's corporate tax rate, among the world’s highest, would encourage companies to come here, and stay here, and so generate more employment. “If a corporate tax cut attracts investment, it's going to help workers in the sense that wage growth will be somewhat bigger,” he said. Businesses are expected to hand over $340 billion in corporate taxes next year, or about 10 percent of all revenue absorbed by the government.

Source: Washington Post August 30, 2017 03:56 UTC