President Donald Trump is working on a new tax plan. Reports suggest that Trump wants to cut the corporate tax rate to 15%. That proposal could have serious long-term consequences for the United States—estimates show this will reduce revenue by $2.4 trillion in the first decade—and it amounts to little more than a massive giveaway to big corporations. Trump proposed the same tax cut for big corporations during the presidential campaign, as part of a larger tax plan that also included tax giveaways for the wealthy at a total cost of $7.2 trillion. We’ll have to wait to see what the details of the plan are, but it’s important that any tax plan help working people.
Read MoreTag: Taxes
