Re:Apple plans new U.S. campus, to pay $38B in foreign cash ...
by untog on Wednesday January 17, 2018 @03:41PM
(#16171589)
You're conflating a few different things here.
The main objection to tax reform was that incredibly rich individuals are going to pay a lot less tax, and the middle classes will (once the temporary cuts expire) end up paying more. All of these complaints about the individual tax rates have very little to do with the impact of these corporate tax changes.
And let's face it: it's far too early to say that these tax changes have been either a success or a failure. The way the reforms were passed - another source of legitimate complaint - sidestepped all the usual assessments and calculations in order to pass something, anything as quickly as possible. So we're flying in the dark here. Yes, these short term bonuses are a positive sign. But who knows what the impact of lower tax revenue will be on other services (e.g.) Walmart employees depend on. Will they still be happy with a $200 bonus if they find out their Medicare coverage gets cut?
The main objection to tax reform was that incredibly rich individuals are going to pay a lot less tax, and the middle classes will (once the temporary cuts expire) end up paying more. All of these complaints about the individual tax rates have very little to do with the impact of these corporate tax changes.
And let's face it: it's far too early to say that these tax changes have been either a success or a failure. The way the reforms were passed - another source of legitimate complaint - sidestepped all the usual assessments and calculations in order to pass something, anything as quickly as possible. So we're flying in the dark here. Yes, these short term bonuses are a positive sign. But who knows what the impact of lower tax revenue will be on other services (e.g.) Walmart employees depend on. Will they still be happy with a $200 bonus if they find out their Medicare coverage gets cut?