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.”From Wombat-socho's "In The Mailbox: 12.20.17", Twitchy: AT&T Just Cracked Egg All Over Chuck Schumer & Dems’ Faces
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.
JUST IN: AT&T announces it will "pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees" due to tax reform passage and will also increase US capital spending by $1 billion. https://t.co/jn8limUSe7— CNBC Now (@CNBCnow) December 20, 2017
JUST IN: Fifth Third Bancorp announces plan "to raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees" following passage of tax bill. https://t.co/iv4i2MTAkO— CNBC Now (@CNBCnow) December 20, 2017
JUST IN: Wells Fargo hikes its hourly pay rate to $15 & will aim for $400M in philanthropic donations next year due to the newly-passed GOP tax bill. https://t.co/iv4i2MTAkO— CNBC Now (@CNBCnow) December 20, 2017
Americans are about to see Dems go on the warpath because everyday Americans are getting bonuses from their jobs and get to keep more of their paycheck from tax relief.— Comfortably Smug (@ComfortablySmug) December 20, 2017
This is gonna be hilarious.