The policies politicians propose and enact represent both priorities and trade-offs. So when Mitt Romney proposes cutting corporate taxes at the cost of $1 trillion over the next ten years, he’s telling us that it’s more important for him to reduce the tax rates paid by Big Business than to have that trillion dollars in the Treasury to fund public priorities.
Here’s one of those priorities. Using data from the National Priorities Project (NPP), I calculated what else we could finance with a trillion dollars. I found that we could fund four-year scholarships for 31million students over the next ten years instead. Each student could go to a “flagship” state school for one year and have their tuition and fees fully subsidized.
Here’s a few other things we could finance for a trillion dollars instead of tax cuts for well-off corporations:
- Veterans Administration care for 126 million veterans for one year
- Hiring 14.5 million teachers for one year
- Hiring 14.1 million police officers for one year
These are just a few alternatives to cutting corporate taxes by a trillion dollars over the next ten years. It’s up to us to choose what’s a better use of our tax dollars.
There is so very much one could do with $1 Trillion that is better than handing it back to the 1%!