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Hope Is Not A Corporate Tax Policy | Solutionomics
Hope is not a corporate tax policy, yet the tax cuts President Donald Trump proposed at a Missouri rally Wednesday are exactly that—tax cuts based on hope. Trump and House Republicans hope that by reducing corporate tax rates, companies will in turn take the money saved in taxes and hire Americans. Yet they do not require companies receiving the tax cuts to hire Americans. Under current proposals outlined in the speech, a company could eliminate American jobs, open operations overseas, and receive the same tax cuts as companies maintaining employment in America or companies creating jobs in America. The result is that all companies would receive the tax cut, whether or not they create jobs here at home. With a nearly $20 trillion dollar national debt, we no longer have the luxury of implementing universal and unconditional corporate tax cuts in the hope that companies use the tax savings to create jobs. Instead of a hope-based corporate tax policy, we need a jobs-based corporate tax