Ivanka Trump and Treasury Secretary Steven Mnuchin press the case for GOP tax legislation.

Jonah Whanau

2017-10-15 07:38:00 Sun ET

Ivanka Trump and Treasury Secretary Steven Mnuchin both press the case for GOP tax legislation as economic relief for the middle-class without substantial tax cuts to wealthy Americans.

In addition to this positive portrayal, Adam Looney, a senior fellow at Brookings Tax Policy Center, analyzes the pros and cons of the current tax overhaul plan:

  1. This reform transitions to a territorial tax system that restricts the scope of legitimate tax avoidance by U.S. multinational corporations to defer taxes on artificial foreign income in offshore tax havens.
  2. This reform eliminates the current inequitably favorable treatment of foreign multinational corporations in America by constraining their ability to reduce their U.S. tax burden in the form of deductible interest payments or royalties.
  3. This reform can be made better if the GOP tax team proposes to boost the Earned Income Tax Credit (EITC), especially for single workers with a wider definition of age eligibility. This tax credit boosts take-home pay and hence serves as an effective incentive for the marginal worker to participate in the labor force.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

We assess almost all aspects of the current global race toward artificial general intelligence (AGI) between both the U.S. and China.

Monica McNeil

2027-10-31 00:00:00 Sunday ET

We assess almost all aspects of the current global race toward artificial general intelligence (AGI) between both the U.S. and China.

In the technological race between the U.S. and China, America leads in some strategic sectors from AI large language models (LLM), graphics processing units

+See More

Federal Reserve delivers a second interest rate hike to 1.75%-2% and then expects more rate increases in late-2018.

Charlene Vos

2018-06-08 13:35:00 Friday ET

Federal Reserve delivers a second interest rate hike to 1.75%-2% and then expects more rate increases in late-2018.

The Federal Reserve delivers a second interest rate hike to 1.75%-2% and then expects subsequent rate increases in September and December 2018 to dampen inf

+See More

CEO overconfidence and corporate performance

Laura Hermes

2022-11-05 11:32:00 Saturday ET

CEO overconfidence and corporate performance

CEO overconfidence and corporate performance Malmendier and Tate (JFE 2008, JF 2005) argue that overconfident CEOs are more likely to initiate mergers an

+See More

Ford and Baidu team up to test autonomous cars in China.

Jonah Whanau

2018-11-01 08:36:00 Thursday ET

Ford and Baidu team up to test autonomous cars in China.

Ford and Baidu team up to test autonomous cars in China. For the next few years, Ford and Baidu plan to collaborate on the car design and user acceptance te

+See More

CNBC stock host Jim Cramer recommends Caterpillar and Home Depot during the current U.S. stock market rally.

Charlene Vos

2019-03-15 13:36:00 Friday ET

CNBC stock host Jim Cramer recommends Caterpillar and Home Depot during the current U.S. stock market rally.

CNBC stock host Jim Cramer recommends both Caterpillar and Home Depot as the U.S. bull market is likely to continue in light of the recent Fed Chair comment

+See More

President Trump picks David Malpass to run the World Bank to curb international multilateralism.

Rose Prince

2019-02-07 07:25:00 Thursday ET

President Trump picks David Malpass to run the World Bank to curb international multilateralism.

President Trump picks David Malpass to run the World Bank to curb international multilateralism. The Trump administration seems to prefer bilateral negotiat

+See More