Trump Tax Plan May Free Up Corporate Dollars, but Then What?
The tax overhaul promised by President Trump and Republican congressional leaders is lugging a remarkably heavy load. The goal is not only to reduce the tax bills of corporations and small businesses, but also to stimulate investment, create jobs, increase global competitiveness and promote economic growth.
Whatever the intentions, though, pushing the world’s largest and most diversified economy in any particular direction is a colossal undertaking. In addition, there is a large and sophisticated tax avoidance industry dedicated to frustrating the most carefully worded proposals.
And as Mr. Trump prepares to outline his corporate tax overhaul ideas in a speech on Wednesday in Springfield, Mo., economists and tax experts warn that the path is likely to be treacherous. . .