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Tax plan math: how middle class and corporate tax cuts square with deficit reduction goals

Mitchell Hartman Jul 26, 2017
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Tax plan math: how middle class and corporate tax cuts square with deficit reduction goals

Mitchell Hartman Jul 26, 2017
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President Donald Trump wants the top U.S. corporate tax rate cut to 15 percent, as well as tax relief for middle-income Americans, he told the Wall Street Journal. The president also indicated a willingness to increase some taxes on rich Americans. But those cuts risk adding to the deficit over the next ten years. And economists said that even if wide-ranging individual and corporate tax cuts stimulate economic growth, GDP is unlikely to rise to the 3 percent level that the administration has forecast in its budget proposal. 

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