Comment on [HN] U.S. Deficit, Pegged at $1.7T, Effectively Doubled in 2023

• JasSmith@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

  Even if it results in less tax revenue, and poor people becoming even poorer?

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  • itsonlygeorge@reddthat.com ⁨1⁩ ⁨year⁩ ago

    P.L. 115-97 permanently reduced the 35% CIT rate on ECI to a 21% flat rate for tax years beginning after 31 December 2017.

    pgpf.org/…/six-charts-that-show-how-low-corporate…

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    • JasSmith@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

      We changed the corporate tax rate in 2017 and 2014 and have been collecting less and less taxes.

      As I explained above, this is not correct. In fact, the opposite is true. Tax revenue continues to trend up. They did not not decrease after 2014 or 2017.

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