No surprise this was dropped. Honestly, I know for a fact (as fact as it can be at least), that there will be no major tax reform in the next 2 years with a divided Congress. Be safe knowing in any discussion that nothing major will be done so please, there is no need at all to worry. Really.
If they can’t stop and tax Yahoo for their AliBaba profits (saving 14 billion), good luck trying to pass anything major anytime soon.
I actually support 0% corporate tax rates for this reason. Companies already can find ways to pay 0 so to balance it out, maybe just get rid of capital gains, dividends rates and everything else rates and make a sliding scale. It was like this many many years ago, but when tax rates were 75% or some insane value, no one paid that neither…
As mentioned, taxing people with 0 or very low income/assets isn’t going to do/help much.
Too bad the government is controlled by the 0.1% so nothing will be done or changed…ever in my lifetime at least.
