expat_panama
Gold Member
- Apr 12, 2011
- 3,864
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Just Say No To The Border Tax
Corporate Taxes: Nobody knows for sure whether President Trump supports a "border adjustment tax." That's fitting, since nobody really knows what this tax would do to the economy.
Trump has been hot and cold about the border adjustment tax. On Thursday, he told Reuters that he thought the tax "could lead to a lot more jobs in the United States." On Friday, Trump's top economic advisor reportedly said it was a nonstarter...
...The plan would swap the current 35% corporate income tax for a 20% consumption tax — or in policy-geek-speak "a destination-based cash flow tax." Because exports are consumed abroad, they'd be exempt from the tax. Imports, however, would face a 20% "border adjustment tax."...
...an untested and potentially harmful overhaul of the tax code. All we need to do is follow the lead of our big trading partners: Sharply lower the corporate income tax rate and eliminate loopholes to broaden the base. The foreign earnings problems can be solved by "territorial" tax — which all but six OECD countries have adopted and which exempts foreign earnings from domestic taxes.
Corporate Taxes: Nobody knows for sure whether President Trump supports a "border adjustment tax." That's fitting, since nobody really knows what this tax would do to the economy.
Trump has been hot and cold about the border adjustment tax. On Thursday, he told Reuters that he thought the tax "could lead to a lot more jobs in the United States." On Friday, Trump's top economic advisor reportedly said it was a nonstarter...
...The plan would swap the current 35% corporate income tax for a 20% consumption tax — or in policy-geek-speak "a destination-based cash flow tax." Because exports are consumed abroad, they'd be exempt from the tax. Imports, however, would face a 20% "border adjustment tax."...
...an untested and potentially harmful overhaul of the tax code. All we need to do is follow the lead of our big trading partners: Sharply lower the corporate income tax rate and eliminate loopholes to broaden the base. The foreign earnings problems can be solved by "territorial" tax — which all but six OECD countries have adopted and which exempts foreign earnings from domestic taxes.