Wednesday, March 1, 2017

Border Adjustment Tax: Trump’s MAGA Ace

Published on Mar 1, 2017
Trump reversed himself last week on border taxes saying “we’re the only country — we’re one of the very few countries, possibly the only country — that has no border tax.” And White House Chief Strategist, Stephen Bannon, has signaled that he agrees with Paul Ryan’s proposed BAT — Border Adjustment Tax. The proposal would decrease corporate taxes from 35% to 20% for domestic products, but for products made in America and exported, the tax would fall to 0% — ZERO.
You’d think that would be applauded, but it is strongly opposed by the multinational corporations, like WalMart, who have made billions by exploiting a tax code that disadvantages American workers and businesses with a 35% tax that follows U.S.A. goods into foreign markets while foreign goods come to U.S.A. markets without any internal taxes.
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