White House Economic Report Calls for Cutting Corporate Taxes

‘On Thursday, the White House released its “2015 Economic Report of the President,” presenting it as an argument for “middle-class economics.”

The document seeks to justify Obama’s scheme, spelled out in his most recent budget proposal, to slash corporate taxes by up to ten percentage points. The report attempts to obscure the fact that such a windfall for the corporate-financial elite will dramatically increase social inequality, claiming instead that it will “increase productivity, output and living standards.”

The document falsifies both present economic reality and the development of the US economy in the post-World War II period in order to argue for further pro-corporate “reforms.”’

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