Reasons #5783 and #5784 That Trump Was Elected
The Democrats in Congress and the press have frantically tried to convince the American people that cutting businesses taxes won’t do any good. This view is delusional, but we hear it so often it almost begins to sound plausible. Here is a contrary view from a different source, German industry: “Germans fear huge loss of jobs from US tax reform.”
German investment in the US is expected to rise by €39 billion because of lower US corporate taxes.
While Americans are anxiously awaiting full details of the tax bill now being finalized in Congress, German economists are warning that the changes sought by President Donald Trump mean that significant amounts of new investment and jobs will shift from Europe to the United States.
“The tax competition will have a new dimension,” said Christoph Spengel, chairman of the corporate tax department at the University of Mannheim. Mr. Spengel, who is also a research associate at the Center for European Economic Research, and a group of tax experts at the university have done a detailed comparison of the two countries’ tax systems and published a report under the heading, “Germany loses out in US tax reform.”
Clemens Fuest, who heads the Ifo economic think tank, also said he believed German business would suffer. “Investments and jobs will migrate to the US,” he said.
From Wombat-socho's
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