Trump pens op-ed championing his tax plan as a path forward for American workers

President Trump championed his tax plan in an op-ed published by the Milwaukee Journal Sentinel on Labor Day, suggesting it is a path forward for American workers. 

While Trump says the plan, “will dramatically reduce income taxes for American workers and families,” he goes on to suggest that the biggest benefits will come from cutting the corporate tax rate. 

The president states, over the past 30 years, the U.S. has, “gone from a business tax rate that is lower than our economic competitors to one that is more than 60% higher.” 

He continues, “In response to this lack of competitiveness, large corporations have changed their business models to export jobs to other countries and then ship their goods back to the United States.” 

Trump says that lowering the rates paid by corporations, “will add millions of jobs, funnel hundreds of billions of dollars into our economy and give America the competitive advantage we so desperately need.”

Related: The president visits Texas after Hurricane Harvey:

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President Trump, Melania visit Texas in wake of Harvey
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President Trump, Melania visit Texas in wake of Harvey
U.S. President Donald Trump and first lady Melania Trump depart the White House in Washington on their way to view storm damage in Texas, U.S., August 29, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump and first lady Melania Trump depart the White House in Washington on their way to view storm damage in Texas, U.S., August 29, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump and first lady Melania Trump depart the White House in Washington on their way to view storm damage in Texas, U.S., August 29, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump and first lady Melania Trump depart the White House in Washington on their way to view storm damage in Texas, U.S., August 29, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump and first lady Melania Trump depart the White House in Washington, U.S., on their way to view storm damage in Texas August 29, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump and first lady Melania Trump board Air Force One for travel to Texas to visit the areas devastated by Tropical Storm Harvey, the first major natural disaster of his White House tenure, from Joint Base Andrews, Maryland, U.S., August 29, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump and first lady Melania Trump depart the White House in Washington on their way to view storm damage in Texas, U.S., August 29, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump and first lady Melania Trump board Air Force One for travel to Texas to visit the areas devastated by Tropical Storm Harvey, the first major natural disaster of his White House tenure, from Joint Base Andrews, Maryland, U.S., August 29, 2017. REUTERS/Carlos Barria TPX IMAGES OF THE DAY
U.S. President Donald Trump and first lady Melania Trump board Air Force One for travel to Texas to visit the areas devastated by Tropical Storm Harvey, the first major natural disaster of his White House tenure, from Joint Base Andrews, Maryland, U.S., August 29, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump (C) and first lady Melania Trump (2ndR) are greeted by Texas Governor Greg Abbott (2ndL) prior to receiving a briefing on Tropical Storm Harvey relief efforts in Corpus Christi, Texas, U.S., August 29, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump and first lady Melania Trump (R) receive a briefing on Tropical Storm Harvey relief efforts with Texas Governor Greg Abbott (2ndL) in Corpus Christi, Texas, U.S., August 29, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump and first lady Melania Trump step off Air Force One prior to receiving a briefing on Tropical Storm Harvey relief efforts in Corpus Christi, Texas, U.S., August 29, 2017. REUTERS/Carlos Barria
A crowd of people stand behind a makeshift cross as they welcome U.S. President Donald Trump's arrival in Corpus Christi, Texas, U.S., August 29, 2017. REUTERS/Carlos Barria
U.S. President Donald Trump (C) waves next to first lady Melania Trump upon arrival prior to receiving a briefing on Tropical Storm Harvey relief efforts in Corpus Christi, Texas, U.S., August 29, 2017. REUTERS/Carlos Barria
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A number of experts have pointed out that, while such a proposal may sound reasonable in theory, it’s far from guaranteed to go as planned in practice. 

The New York Times notes, “Many economists…argue that large corporate tax cuts would do relatively little — particularly in the near term — to boost wages or create jobs. Instead, they would boost corporate profits and benefit the wealthiest Americans who own the most corporate stock. There is little evidence that large tax cuts will prompt American corporations to invest more; they are already sitting on nearly $2 trillion in cash.” 

NPR points out that 35% corporate tax rate is not indicative of what’s actually paid, as “deductions and credits help bring U.S. companies’ tax rates below what they would otherwise pay. The effective tax rate for U.S. corporations is only around 18.6 percent.” 

It also states, based on a recent report, “that out of 258 profitable Fortune 500 companies, 39 percent paid zero corporate taxes in at least one year between 2008 and 2015.” 

Notably, no detailed plan for Trump’s tax agenda has been drafted, so it remains unknown how or if it would ensure the corporate breaks would, indeed, benefit workers.

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