A new paper from the chief White House economist asserts that a drop in the U.S. corporate rate to 20% could result in higher paychecks for typical Americans.

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Ideally, the U.S. should aim for the lowest corporate rate possible. But what’s rarely noted when comparing the United States to competitors with low corporate rates is that those countries also impose a consumption tax on top of their other taxes.

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President Trump keeps pushing for a 15% corporate tax rate, even though it would cost trillions. But reducing the rate that much may be easier said than done.

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