Regarding the Nov. 3 Tribune article, “Utahns in Congress laud GOP tax plan.” Our Utah congressional (R) toadies should know that even an unbalanced bear furtively does it in the woods. Come on, congressional Democrats, insist Trump release his taxes before you buy into federal income tax reform that superficially reduces the “statutory” corporate federal tax rate from 35 percent to 20 percent.
When Trump “releases” you likely will find his “effective” tax rate is 0 percent or lower due to real estate tax loopholes and paper losses.
Also, insist he stops hypocritically outsourcing all his family business contracts to foreign labor and begins employing labor at home to produce his products. Firms like Boeing (0 percent “effective” tax rate), and the second largest federal contractor, General Electric (0 percent), Microsoft (0 percent), Ford (2.3 percent), Verizon (10.5 percent), and scores of other profitable Fortune 500 firms that reportedly paid no or very low “effective” federal income taxes should follow suit.
Many Fortune 500 firms, and likely Trump, stash billions in offshore tax havens — like the no corporate taxing Cayman Islands — and would owe billions in federal income taxes if they actually paid the proposed 20 percent “statutory” federal tax rate and stopped using predatory tax strategies.
Trump’s fake tax overhaul will not largely benefit the middle class, will hurt many, and will bust the bank ($1.5 trillion plus in debt added).
Get on your Utahns in Congress to stop lauding and serve with integrity. Better yet, get them out of Congress before they OD on more thoughtless twitters.
Tim Larson, Cottonwood Heights