Tax Cut Is Better (for Companies) and Worse (for Everyone Else)

[demmiblue]

Corporate America is saving more than expected, but taxpayers are on the hook for it.

President Donald Trump and the Republicans’ tax cut is proving to be vastly more generous for corporate America, and vastly more expensive for taxpayers, than expected. Worse, the Trump Slump is erasing the bump the stock market received from the tax cuts. And evidence is mounting that the promised economic boost isn’t materializing. The administration’s signature political achievement is being eclipsed by disarray over trade, immigration and a government shutdown.

First, the headline number: $600 billion, at least. That’s how much more than expected I estimate the companies in the S&P 500 are on pace to save. It is also how much more the tax cut is likely to add to the national debt if it runs as planned for 10 years. The total savings for all of corporate America will be well into the 13 figures.



https://www.bloomberg.com/opinion/articles/2019-01-14/trump-tax-cut-turns-out-both-better-and-worse?cmpid=socialflow-twitter-business&utm_medium=social&utm_content=business&utm_source=twitter&utm_campaign=socialflow-organic

[FiveGoodMen]

1. Good to have it documented

(and who didn't see it coming?)