The Giant Sucking Sound (The Morning Quote)

Mike ‘Payola’ Allen morning email thingie at Axios tells us a little bit about Hair Führer’s tax proposal/guideline that is supposed to be rolled out today:

  • The deets … Wall Street Journal’s Michael Bender and Richard Rubin say the plan would “cut corporate taxes on U.S. companies’ foreign profits and … slash the top tax rate on so-called pass-through businesses, including many owner-operated companies, to 15% from 39.6%.”
  • “White House officials also have agreed to propose a territorial tax system, … favored by large multinational firms … U.S. corporations would pay little or no tax on future foreign earnings.”

You don’t have to have a MBA from Wharton to see the razor blade in the apple. If you want to encourage off-shoring, you do this. By lowering or eliminating taxes that US Multinationals make overseas, you are encouraging off-shoring as a US policy. Given the ethics and morality of the average CEO, you can kiss the manufacturing companies goodbye; and software will be next.

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6 Responses to The Giant Sucking Sound (The Morning Quote)

  1. roket says:

    Soon the conservatives will have us convinced that deficits are a good thing.

    Liked by 1 person

  2. quakerinabasement says:

    “slash the top tax rate on so-called pass-through businesses, including many owner-operated companies..”

    Like the Trump Organization?

    Liked by 1 person

  3. Retiredeng says:

    Mmm. So how are they going to explain the extremely high unemployment that will be guaranteed by this lunacy?


  4. paul fredine says:

    one page with no explanations on how it’s going to be paid for or exactly what it’ll do to the deficit but all some are going to hear is ‘tax cut’ and believe it’s a good thing. corporations are cheering and CEOs are beside themselves (ready the fainting couch and pass the smelling salts) thinking about all the lovely things they’ll be able to buy with their profits. meanwhile, the country goes to hell and they’ll blame it all on obama…again.


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