Below is a letter I submitted to the editors of the New York Times in response to this article.
To the editor:
Today’s New York Times article Trump Tax Plan Would Shift Trillions From U.S. Coffers to the Richest by Julie Hirschfeld Davis and Patricia Cohen lacks depth and understanding. In a small sense the premise has merit, but in a larger sense it is so off base, it is disturbing.
First, the tone and direction lack the support of a thorough investigation. Choosing to focus on how “the rich” might benefit, fails to identify who would benefit: Small business.
I have a first generation small business that is now nearly 40 years old, I hope to transition it someday to my son. But considering the cost of federal tax, state tax, payroll tax and investment tax ( >50%), growth is difficult.
Dropping the corporate tax to 15% would save small business $25,000 on every $100,000 of profit. That savings could and would be reinvested in jobs and expenditures that would generate alternative tax revenue.
Let’s try to dig deeper on who this tax cut will really help. Start looking for positive solutions rather than hammering the negative. It is not productive and has no value.
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