, 4 tweets, 1 min read Read on Twitter
Big tax breaks for foreign banks are just a part of the Trump tax cut story 1/ nytimes.com/2019/07/19/bus…
The centerpiece of the Trump tax cut was a big cut in corporate taxes; since that ends up going to equity investors, about 35 percent of that break is going to foreigners 2/ taxpolicycenter.org/taxvox/foreign…
We're talking big numbers here, since annual corporate tax receipts have fallen more than $100 billion since the cut 3/
Trump keeps boasting about the tariff revenue he claims we're collecting from China — which isn't true, because U.S. consumers are actually paying the tariffs. Meanwhile, he's given huge tax breaks to foreign investors. Making America poorer ... 4/
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