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Business Title: Germans Fear Tax Cut Will Spur US Investment and Growth 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. The report itself is dense and technical, but interesting. A few readable excerpts: Scholars certainly agree, but “politicians from both parties”? Someone better tell Nancy Pelosi. Which means that Europeans will be creating American jobs. Finally: It is hard to understand how the Democrats can deny basic economic realities that European economists regard as virtually self-evident. That isn’t the Democrats’ biggest problem, though. They will really have a lot of explaining to do when a large majority of Americans see their paychecks increase in February. Poster Comment: For many years, I've suspected our outrageously high corporate tax rates were a way to deliberately hobble American business domestically and give companies incentives to move operations overseas, as a prelude to expanding international control and eventual world government. There was never a good reason to handicap American business this way unless it served another purpose. Like subsidizing the EU and Japan and SKorea and China. Trump is determined to change these fundamentals that harm American business and American consumers so he can get Americans a better trade/wage deal as he always pledged to do during the campaign. Post Comment Private Reply Ignore Thread |
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