It’s doubtful, as CNN’s Jake Tapper explains, that average household income would increase $4,000 a year if the corporate income tax is cut from 35 percent to 20 percent.
Video: $4,000 Income Increase Doubtful
Issues: Corporate tax
Trump’s Dubious $4,000 Claim
Would American households really see an average income increase of $4,000 a year if President Donald Trump succeeds in cutting the corporate income tax? Don’t count on it. This claim is dubious at best.
Democrats Overstate Trump Tax Plan Effects
Democrats have used outdated or inflated figures to attack the GOP tax plan, when sticking to the facts would have served them just as well.
Trump’s Tax Plan and ‘the Rich’
In promoting his plan to overhaul of the nation’s tax system, President Donald Trump claimed “the rich will not be gaining at all with this plan.” But the tax proposal his administration outlined in April would heavily benefit high-income taxpayers, and Trump hasn’t revealed any changes to it.
Who Benefits From Corporate Tax Cut?
In advocating for a corporate tax cut, Treasury Secretary Steve Mnuchin overstates the consensus when he says “most economists believe that over 70 percent of corporate taxes are paid for by the workers.”
FactChecking Trump’s Tax Speech
In a speech on changing the tax code, President Donald Trump offered some political spin on the facts.
Border Adjustment Baloney
The anti-tax Club for Growth claims in a TV ad that a key Republican tax proposal “will” cost “middle-class families” $1,700 in higher prices. That’s baloney.
Sanders’ Corporate Tax Comparison
Sen. Bernie Sanders frequently says corporate income tax receipts have dropped from more than 30 percent of federal revenue in the 1950s to only 11 percent in 2015, leaving the impression that favorable tax policies are the reason. But there are several factors behind that drop.
Christie’s Tax Dodge
Chris Christie repeatedly has said that U.S. corporations are taxed twice on income earned abroad, claiming in one speech that IRS officials “don’t recognize the tax that you paid to a foreign country.” That’s false.
Outside Attacks in Massachusetts
New ads from outside Democratic groups attacking Massachusetts Senate candidate Gabriel Gomez distort his positions on Social Security and taxes.