The Trump Administration just gave a corporate tax break, decreasing rates from 35% to 21%. In contrast, this is a very small tax - an average of ½ of a percent - only on income over $50 million. If a business brings in $54 million, only $4 million of that would be taxed. In addition it is variable so that businesses with smaller margins get a smaller tax., for example, retail the tax is less than 2/10ths of a percent.
Won’t this measure hurt businesses such as retailers?
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