One might be tempted to say "oh well, nothing lost, nothing gained," but the reality is that corporations will now pay no tax on international profits brought into the United States.
If you or I have a small overseas investment, we still have to pay tax on the earnings. But if you're a fatcat billionaire, Trump's tax "reform" will mean you pay no tax on your foreign profits.
Many of these American companies earn profits in third-world countries where they have no income tax.
The bottom line is that this change will mean the U.S. Treasury will have a lower revenue with no economic benefit in return. It's just a massive giveaway to billionaires and will burden the rest of American taxpayers with an increased national debt load.
And Trump still claims he's the President sticking up for "the little guy." More like he's sticking it to the little guy.
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