Tax plan will benefit taxpayers in the end

first_imgThe 2017 Tax Cut & Jobs Act is not polling well with the American people.  That’s not surprising at this stage of tax reform.  Ronald Reagan’s 1986 tax reform had only an 18 percent favorability rating the day it passed.  The average taxpayer doesn’t believe tax cuts for corporations will benefit him or her. What they don’t realize is corporations are just pass-through entities for their corporate taxes. Corporations don’t pay taxes. Workers pay it in lower wages and/or customers pay it in higher prices for goods and services. The combination of lower corporate taxes and switching to a territorial tax system (like the rest of the world), which only taxes corporate profits once wherever they are earned globally, will have a very beneficial effect on the American economy. I humbly predict that this tax reform will eventually be very popular with American taxpayers.  My thank you to President Trump and the Republican Party. #MAGA.Bob LindingerGuilderlandMore from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusFoss: Should main downtown branch of the Schenectady County Public Library reopen?EDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesAlbany County warns of COVID increase Categories: Letters to the Editor, Opinionlast_img

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