It seems that the EU is now attempting to foist political pressure on America to change its tax policy, or, rather, NOT change its tax policy. The EU ministers don’t want the US to cut taxes, and they definitely don’t want the US to cut taxes on corporations. The fact that the EU is so nervous about the US cutting taxes to corporations just makes me all the more inclined to support it.
Five EU finance ministers wrote a letter to the US and warned that the proposed tax changes could have “a major distortive impact on international trade.” I’ll read that to mean, it will no longer put an unfair burden on US businesses in comparison to their EU counterparts, and/or if you lower taxes on US businesses and they can compete better with our EU businesses, it might possibly force us to lower the tax rates on those businesses, which will prevent us from stealing more money and using it to enrich our own interests, all under the guise of helping the children, the poor, the widows, etc.
The finance ministers of the European Union’s five biggest economies have written to their American counterpart to voice concerns over a US tax overhaul, saying Washington should adhere to “international obligations to which it has signed up”.
The letter, signed by the British, French, German, Italian and Spanish finance ministers, warned that “certain less conventional international tax provisions could contravene” tax treaties and could have “a major distortive impact on international trade”.
US Republicans in the House and Senate are working to come up with a final unified version of the reform that President Donald Trump can sign before the end of the year.
Both versions call for slashing taxes for corporations and business partnerships while eliminating many deductions for individuals.
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