Europe doesn't like Trump administration's tax plans

[alp227]

Source: CNN

Europe's five biggest economies have warned the Trump administration that its tax plan may violate international trade rules.

Germany, France, Britain, Spain and Italy have written to Treasury Sec. Steven Mnuchin, arguing that tax bills passed by the House and Senate run afoul of treaties and could distort international trade.

"It is important that the U.S. government's rights over domestic tax policy be exercised in a way that adheres with international obligations to which it has signed-up," the letter states. It was signed by the countries' finance ministers.

The letter argues that proposed changes to the U.S. tax code could give American companies an advantage over foreign rivals.

Read more: http://money.cnn.com/2017/12/11/news/economy/tax-bill-warning-europe/index.html

[BigmanPigman]

1. This is NOT a done deal. Quite the opposite in fact.

The GOP propaganda machine wants us to believe that it is and that is why they are pushing it through. They do not want the calls, town halls, blocked hallways, etc. They think we do not know that bit is a scam and if we do they don't want the word to get out hampering their clandestine efforts.
That is GOP wishful thinking so DO NOT FALL FOR IT. They need 51 votes, after Jan ast they will need 60. Our voices are being heard by them and they are scared...and should be. Only 28% of Americans approve of it.
DITRACTIONS are all over and expect more daily. If people on DU would fight the Tax Scam as much as they fight Franken's resignation their energy would be used to stop it dead in its tracks.
This is NOT OVER! People have been organizing and there is a lot that YOU, me and everyone we know can do and DO it NOW!

I was part of the Not One Penny nationwide phone call with Indivisible, Cory Booker, Bernie, MoveOn, etc. We all need to get up and be active instead of whining that it is over, that is GOP and MSM BS used to distract us. The bill is not a win, it is a disaster and we can stop it. There are still a few weeks left and the three things we must do...
1. Attend protests, town halls, etc and make sure the media is there, no matter how big or small it is. The media has been absent due to the non stop distractions. There are many important issues but this is our BIGGEST PRIORITY for the next few weeks.
2. Keep up the CALLS. They started late but eventually their staffers were busy ...call, tell your family and friends in other states to call too. [phone]
https://www.trumptaxscam.org/
3. Social media is crucial. Retweet and share whatever you can. Send it to the media. Events, town halls, protests are occurring and over 100 are planned for this week alone. Bernie, Cory Booker, Indivisible, MoveOn have been going to Kentucky, Ohio and PA all weekend.

New info is already coming out. One new fact since the Fri vote is that there will be 1/2 trillion more dollars added to the deficit. Only 28% of Americans approve of the Tax Scam. This week Ryan will appoint Repub to his closed door "conference committee" and then we can target those reps. The house and senate have to "negotiate a compromise". What they voted on is different in each chamber. For now we know of 28 Rep congressmen who voted against one of the two bills/plans. We need to flip 23 of them. The Senate will need to be PRESSURED NON STOP...this means calling the 9 senators that were wavering. If we get Alabama we only need two more senators with Corker. This would be great.
We have been the catalysts of the grass roots efforts for a year and have stopped major legislation. We have a few more weeks until the holidays. After that we have to spread the word about what the GOP has done to the stability and future of our country with this tax cut for the rich and they are taking money from the sick and poor which will bankrupt millions and take over 13 million off of health care. Meanwhile tax cuts for multi million dollar corporations will not be trickling down at all and never will. The bill ensures that the country will be taxed more over the next 10 year (but not the corporations...you and me are paying).
Call [phone]

We must HAMMER them on this bill. Put pressure on these greedy, cruel eastwards and DO NOT STOP!

[DetlefK]

4. I have just read that the conference has trouble merging the bills.

Too many competing demands, too many competing factions among the Republicans. And no ideas how to make this work. (It's almost as if Republicans have problems with this whole "government"-thing...)

And now the Treasury-Department has released a 1-page-analysis that the bill would pay for itself... if the Trump-administration would pass other bills as well.

[no_hypocrisy]

5. I just looked at the House and Senate Calendar for 2017.

House's last session is Thursday 2/14 and the Senate's is the next day Friday 2/15.

Then it's Christmas Break.

Unless they get exceedingly desperate, I doubt the bills will be reconciled and ready for a vote in 48 hours.

[christx30]

2. Like the Trump administration will give a crap about Europe.

To object to something, you have to show Trump how it would be bad for HIM personally. Telling him that something is a treaty violation won't do it. Telling him how something would be bad for any country other than the US won't do it.

[DFW]

3. In other words

Europe feels about Trump's tax plan the way Europe feels about every other aspect of the Trump presidency.

[JustABozoOnThisBus]

6. And Trump feels the same about Europe's feeling on any issue whatsoever.

Except for one European country: Russia. Oh, he so wants to be best buddies with Putin.

[Igel]

7. There's a lot of money that would be possibly transferred to the US.

Where do you think it's mostly being housed?

Okay, shell corporations. But past that, it's not kept in demand deposits. It's kept in investments. In Burundi? Nepal?

Or maybe on stocks traded on European stock exchanges, with European investment firms?

Oh. Wait. Can't be. That would mean Europe would have a motive for opposing something that might drain $1 trillion from investments on the Continent.

Moreover, some of the provisions would be bad for trade with Europe. The US had a $700 billion trade relationship with Europe as of several years ago, with a trade deficit with Europe pushing $100 billion. This, of course, is also no reason to oppose the plan.

The objections are at least as mercenary as they are principled.

But what am I saying. Money is never a reason for doing anything, I guess.