Correction, Please!
Promoting Tax Cuts for Economic Growth
Item: A front-page article in the New York Times for November 3, 2017 reported that the “House Republican tax bill is a clear windfall for corporate America and a roll of the dice for the middle-class families.... Early projections suggest the bill would cut taxes for an average middle-class family. But the typical cut could be relatively modest, compared with the benefits for businesses and high earners.”
A companion Times article on page one said the “bill is heavily weighted toward business, which would receive about $1 trillion in net cuts, or two-thirds of the total, according to calculations by the Joint Committee on Taxation. At its center is a proposal to permanently cut the corporate tax rate to 20 percent from 35 percent — a change that is estimated to reduce federal revenues by $1.5 trillion over the next decade alone.”
Item: The editors of the “liberal” establishment New York Times appeared to be outraged in their editorial on November 3, saying that in the newly unveiled bill, “House Republicans and President Trump are making it absolutely clear whom they are working for — the top 1 percent — and whom they consider dispensable. Well, that’s pretty much everybody else.”
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