Posted on 01/23/2018 6:56:37 AM PST by mandaladon
Top chief executives in Davos are heaping praise on changes to the United States tax code pushed through by President Trump. The consensus at the World Economic Forum, which kicked off on Tuesday, is that the tax overhaul will boost U.S. growth and increase investment.
"There are companies all around the world who are looking at the U.S. now and saying, 'This is the place to be in the developed world,' " said Blackstone (BX) co-founder Stephen Schwarzman, who chaired Trump's economic advisory panel until it was dissolved in August after a series of resignations.
"There are going to be a lot of flows into the United States," he added.
The changes drop the corporate tax rate to 21% from 35%, and encourage American companies to bring overseas cash back home.
Credit Suisse (CS) CEO Tidjane Thiam said that businesses will now look to do more deals in the U.S.
"Tax reform in the U.S. has been exactly what we needed ... to give a new impetus to world growth," he said. "I do believe that the positive impacts of that are underestimated."
He cited the recent $3 billion purchase of Nestle's (NSRGY) U.S. candy brands by Italian firm Ferrero as a prime example.
"There's a whole pipeline of similar transactions building," said Thiam.
(Excerpt) Read more at money.cnn.com ...
Someone at CNN is about to lose their job.
[’This is the place to be in the developed world,’ “ said Blackstone]
Looks like PRESIDENT TRUMP’s policies are “IN” with the corporation “IN CROWD”. MAGA
Translation:
We get to sell more stuff to America!.....................
Trump doesn’t deserve credit for all the economic good news
President Trump will be attending the World Economic Forum in Davos this week. Inevitably, attention will focus on whether the president projects a commitment to internationalist values or reiterates his truculent nationalism in the name of making America “great again.”
Or buy more stuff in America. Like the Nestles deal.
Bigger than that. “We are going to make HUGE investments in America!”
Thanks mandaladon.
All hail Hussein Obama. He is the reason PDJT is in office, and the resulting sea change in AMERICA.
Wow! A CNN (Fake News originator) pro-Trump article! Winning doesn’t get much better than this:-) Go Trump Go and KEEP MAGA!
Trump wins respect the old fashion way - by RESULTS... NOT by cheap apologies and BS.
Trump's the 'win'...
. . . which depended on the assumption that the repatriation of profits from US international corporations would have been the same without the Trump tax cut. It wouldn’t have, for the simple reason that fiduciary responsibility to stockholders required keeping the money overseas until the punitive tax on it was lifted. After the tax law, 2018 was the “one time good deal” time to repatriate, and, as such, any US board of directors had a fiduciary responsibility to stockholders to repatriate this year.. . . and we’re talking well north of $1 trillion. A trillion dollars here, a trillion dollars there, pretty soon you’re talking real money.
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