Trumps 2017 Tax plan, removes deductions, reduces total tax brackets for income taxes, in exchange for a lower over all income tax rate, higher minimum income requirements, and lower Corporate tax rates, coupled with repatriation of Corporate offshore money’s, to be invested here in America…
Trumps 2017 Tax plan, sounds like Apple CEO Tim Cook 2013 tax plan Congress, when questions about Apples Tax avoidance, and how America should simplify the tax code, by eliminating all corporate loopholes & deductions, which would increase Apple taxes, and improve the economy.
QUOTE: “””Apple believes in the simple not the complex, we recommend a dramatic simplification of the tax code, reform should be revenue neutral, eliminate all corporate tax deductions and expenditures, lower corporate income tax rates and implement a reasonable tax on foreign earnings to allows a free flow earnings back to the united states, we make this recommendation with out eyes wide open, and realize will result in a higher tax obligation to Apple, but we sincerely believe this would be fair to all tax payers, will keep America globally competitive, and would promote US economic growth…””” [[minute 8:54–9:50 of 36:41 duration]]
In sum,
The tax-rate is irrelevant if…. the tax-code allows corporations/wealthy people sufficient deductions to lower their effective tax rate to zero… Let’s see if Trump tax plan, does as advertise….
Notes:
Trump 2017 Tax Plan Signing…
