As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Can a corporate tax cut really boost average household income by $4,000?
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The White House released a paper today laying out the argument that a corporate tax cut will give a $4,000 boost to the average household. The studies being used to back up its assertion come from reputable places like the Kansas City Fed and Harvard, although there are plenty of other studies that say otherwise. The merits of the corporate tax cut and who it benefits is setting up to be a battle of the academics over some complex models predicting how companies might behave. So what does recent history tells us companies do? And why does the White House think this time will be different?
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