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Originally Posted by driveway
Or, you can increase revenues so you can afford it.
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I doubt you can increase revenues to offset the trillion dollar deficit.
Either way, the idea around increasing revenues is to create a level playing field. End the loopholes and subsidies, but lower the corporate rate so what other 1st world countries pay. The US has the 2nd highest corporate tax rate in the world as is.
I'm not sure what the end numbers would be, but I think its more about the level playing field and job growth. Companies like GE, GM, Apple, Google and Facebook have millions to spend on lawyers and accountants that help them take advantage of the loopholes. Their tax rate is lower as a result. Smaller businesses don't have the money to spend on lawyers, so they're stuck paying higher tax rates.
We can argue that dropping the rate from 18% to 17% might not do much for job growth, but when your rate is 35%, it can create a problem for job growth. And smaller businesses are paying those kinds of rates.