Small problem with Trump’s tax plan
The proposed Trump tax reform “plan” calls for reducing the corporate tax rate from 35 percent to 20 percent (down from his campaign promise rate of 15 percent). Small problem — after deductions and loopholes, the average effective tax rate paid by Fortune 500 companies is about 20 percent.
Unless a lot of deductions and loopholes are eliminated, most of the Fortune 500 companies would pay no taxes at all under Trump’s tax “plan.”
Lee Van Leeuwen, San Luis Obispo
This story was originally published November 4, 2017 at 5:53 PM with the headline "Small problem with Trump’s tax plan."