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

Kobe Bryant and several other star athletes have been smart savvy investors.

Charlene Vos

2019-08-08 09:35:00 Thursday ET

Kobe Bryant and several other star athletes have been smart savvy investors.

Kobe Bryant and several other star athletes have been smart savvy investors. In collaboration with former Web.com CEO Jeff Stibel, the NBA champion invests

+See More

The May administration needs to seek a fresh fallback option for Halloween Brexit.

Peter Prince

2019-05-15 12:32:00 Wednesday ET

The May administration needs to seek a fresh fallback option for Halloween Brexit.

The May administration needs to seek a fresh fallback option for Halloween Brexit. After the House of Commons rejects Brexit proposals from the May administ

+See More

Sino-American trade talks make positive progress over 3 consecutive days.

Joseph Corr

2019-01-17 10:41:00 Thursday ET

Sino-American trade talks make positive progress over 3 consecutive days.

Sino-American trade talks make positive progress over 3 consecutive days as S&P 500 and global stock market indices post 3-day win streaks. Asian and Eu

+See More

Tech unicorns blitzscale business niches for better scale economies from Uber and Lyft to Pinterest, Slack, and Zoom.

Dan Rochefort

2019-05-03 11:29:00 Friday ET

Tech unicorns blitzscale business niches for better scale economies from Uber and Lyft to Pinterest, Slack, and Zoom.

Key tech unicorns blitzscale business niches for better scale economies from Uber and Lyft to Pinterest, Slack, and Zoom. LinkedIn cofounder and serial entr

+See More

Allianz chairman Mohamed El-Erian bolsters a new American economic paradigm in lieu of the Washington consensus.

Apple Boston

2018-04-20 10:38:00 Friday ET

Allianz chairman Mohamed El-Erian bolsters a new American economic paradigm in lieu of the Washington consensus.

Allianz chairman Mohamed El-Erian bolsters a new American economic paradigm in lieu of the Washington consensus. The latter dominates the old school of thou

+See More

Innovative investment theory and practice

Olivia London

2022-05-15 10:29:00 Sunday ET

Innovative investment theory and practice

Innovative investment theory and practice Corporate investment can be in the form of real tangible investment or intangible investment. The former conce

+See More