Photo Credit: ATIS547 / Flickr

Trump wants to cut the corporate tax rate from 35 percent to 15 percent, in order to “make the United States more competitive.”

This is truly dumb, for 5 reasons:

1. The White House says the United States has one of the highest corporate tax rates in the world. Baloney. After corporate deductions and tax credits, the typical corporation pays an effective tax rate of 27.9 percent, only a tad higher than the average of 27.7 percent among advanced nations.

2. Trump’s corporate tax cut will bust the federal budget. According to the Congress’s own Join Committee on Taxation, it will reduce federal revenue by $2 trillion over 10 years. This will either require huge cuts in programs for the poor, or additional…