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AmericanDreamer — Mon, 23 Apr 2018 14:43:00 +0000

In reply to The Great Republican Tax Cut Backfire

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Far from creating incentives to reverse offshoring, the law actually enables corporations to pay a lower rate of tax on profits earned overseas. And despite a good deal of messaging by corporate allies of Trump claiming that worker raises and bonuses are the fruit of the tax cuts, the small number of pay increases are a pittance compared with the tax savings for companies.

Last week, headlines were made by the news that regulators had levied a $1 billion fine against Wells Fargo for chronic frauds against its customers. That $1 billion was less than a third of the money that Wells Fargo saves from the tax cut.

dagblog - Comments for "The Great Republican Tax Cut Backfire"

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