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Funding basic research to support the accumulation of knowledge and innovation is hardly special interest lobbying. A large part of the power of the US economy
by digitaltrees 9y ago
Funding basic research to support the accumulation of knowledge and innovation is hardly special interest lobbying. A large part of the power of the US economy comes from having the strongest university system in the world and one that produces the greatest level of basic academic research and resulting commercialization in the world.
This tax cut is solely focused on corporations and was fixated on hitting a 20% tax rate. The corporate tax rate could have been 22% or 28% with out the need to scrounge money every other place they could and yet still add 1 to 1.5 trillion to the national debt.
No corporation is going to make investments because of this, there just going to horde it in the Cayman Islands or issue dividends then will also end up in the Cayman Islands. Funny how the repatriation of capital exemption wasn’t in this bill.
So to your point. Both blue collar workers and grad students are now subsidizing corporate profits that will sit idle in foreign accounts.