Sean Spicer, at his non-televised press briefing yesterday, seems to ignore the same basic fundamental of corporate tax calculations: “I’ve talked to several CEOs and business leaders in the past couple of weeks about tax reform, and it’s amazing how many of them tell you that they pay the 35 percent rate. And you say to them, what will you do if that rate drops? And the number-one thing they talk about is they’re going to invest and build more in their company. And I think that’s what we need to do.”
This tells me exactly what the current administration wants from corporate tax reform — not something that would help small businesses. They want to help enormous corporations that actually benefit from lowering the top level US corporate tax rate. Companies sheltering money overseas or investing overseas.