Send a Tweet
Most Popular Choices
Poll Analyses
Share on Facebook 19 Share on Twitter Printer Friendly Page More Sharing
Best Web OpEds   

It's Time to Fully Tax the Multinationals- CBO: Corporate Tax Avoidance Reduced only 23 % by Tax Cut and Jobs Act (TCJA)

Author 39565
Follow Me on Twitter     Message Hugh Campbell
Become a Fan
  (3 fans)

Multinationals were certainly pleased with the TCJA, giving the TCJA a business-friendly sheen — at least until the Congressional Budget Office issued a report in 2018 showing that the legislation would only reduce corporate tax avoidance by 23%. As a result, domestic companies are still competing against multinational companies that enjoy significant tax loopholes.


(Image by Ways and Means Committee)   Details   DMCA

Put another way the 40 % drop in the U.S. Corporate tax rate from 35% to 21%, with the stated purpose to make U.S. Domestic Corporations competitive was 77% wasteful. If Multinationals were taxed fully by the TCJA, competitiveness could have been achieved by a reduction of 3.25% from 35% to 31.75%

TCJA’s supporters claim that patience is needed — until the legislation demonstrates its full worth. But domestic companies continue to face a tilted playing field. They urgently need a more effective solution.
Read the rest of the story HERE:

At morningconsult.com

 

Rate It | View Ratings

Hugh Campbell Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

To View Comments or Join the Conversation: