Posted: 2/12/2017
President Trump in election campaign program had clearly stated that he wanted to drop the highest corporate income tax rate among all member countries of the OECD to 15% for corporations of all sizes from its current level of 39.1% (I don’t recall whether Trump also proposed to define the corporate tax base as territorial as opposed to the current, disadvantageous world income). This is a very simple and straightforward tax reform, however ...
Since President Trump has won the election on November 8, 2016, we learn of all kinds of mostly dubious, alternative tax proposals coming from within the GOP distracting from the above goal:
- There is a border adjustment tax in combination with some kind of an unconventional business cash flow tax being discussed. This proposal alone could upset the international
- Recently, a bunch of prominent republicans came out with a ludicrous proposal for an additional, new carbon tax (here is one article). They claim it would be somehow revenue neutral. Ha Ha!
One can only hope, the Republican Party soon gets its act together! This is not the time for questionable, possible futile tax experiments only aiding the Democratic Party.
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