#特朗普宏大减税法案

Corporate taxes to be cut again? Trump's Tax Cuts 2.0 aims at capital repatriation.
Trump's new tax reduction proposal once again focuses on corporate income tax, with the idea of lowering it to 15% sparking widespread discussion in the market. This is not only a business-friendly policy but also a redistribution of global capital flows.
Reducing corporate tax burdens will significantly enhance the net profit margins of companies, especially in the manufacturing sector, tech giants, and multinational corporations. If the bill progresses, earnings expectations for US-listed companies will be revised upwards, boosting the valuation center.
At the same time, tax cuts also help attract overseas profits back to the country. According to Goldman Sachs, the tax cut policy in 2017 attracted nearly $500 billion in overseas profits to return to the U.S. The intention behind the new round of tax cuts is clear - to create space for the return of dollar capital and the enhancement of dollar credit.
But this could also trigger a new round of "tax competition," putting pressure on the tax systems of other countries. Developing countries may need to passively adjust their tax rates to maintain investment attractiveness, and the global tax system may face a new round of reshuffling.
Capital is profit-driven, and the tax rate is a barometer. Trump's card of tax cuts is still a battle for the "global capital allocation rights."