Quite the opposite, actually. Now that America is set to promote economic competitiveness domestically, this spills over to international markets, who, in order to maintain competitiveness with the US will have to do major tax reform and de-socializtion of their nanny states just to keep up with the US.
The $4T that is expected to be re-invested in the US from overseas is also going to be chased by the same tax-advantaged places where the $ have been parked and firms have chosen to re-incorporate. (e.g., Ireland).
This tax bill has the ripple effect likelihood of collapsing socialism and nanny state-ism world wide.
FReegards!
It's no wonder the left is going all out on the anti-tax bill propaganda. The people living in socialist countries around the world are so in the dark that they mostly only experience our lefty media and the false impressions it creates.