I published a blog post titled “18 reasons to oppose the tax reform bill“. The reasons for opposition are overwhelming and compelling. Yet the tax reform bill is not all bad news. There are two positive points in the proposed law:
- The reform bill substantially lowers taxes on large international corporations. Most people agree that corporate tax rates should consider the impact of international tax laws and rates. I agree that lower corporate tax rates are desirable but only is accompanies by an equal increase on tax of high income shareholders.
- It encourages money earned and help overseas to be reinvested in the U.S. Almost everyone agrees that this is a good idea.