Did the new Tax Law keep incentives to move jobs overseas? <yes>

[kyzr]

It seems that no matter who controls congress the sneaky K-street lobbyists still manage to screw the US economy by adding offshoring tax breaks. That is disappointing since Trump and the GOP ran on ending those practices. i.e. its more than high US corporate taxes that chases corporations overseas.

We need to stop tax breaks for outsourcing jobs and factories. I support this proposed legislation:
New Legislation Would End Tax Incentives to Move Jobs and Profits Offshore

Even the CBO agrees that there is a tax incentive problem:
CBO confirms GOP tax bill will worsen offshore tax dodging

Unless the Trump admin and the GOP fix the tax loopholes I hope the dems beat them over the head with their tax breaks during debates. The GOP also needs to raise taxes on the top 5% or so of incomes to pay the tax bills and reduce the Debt. The windfall in the stock market means that they can afford to pay a bit more in taxes to keep from exploding the Debt.

 

[MeBelle]

It seems that no matter who controls congress the sneaky K-street lobbyists still manage to screw the US economy by adding offshoring tax breaks. That is disappointing since Trump and the GOP ran on ending those practices. i.e. its more than high US corporate taxes that chases corporations overseas.

Even the CBO agrees that there is a tax incentive problem:
CBO confirms GOP tax bill will worsen offshore tax dodging

The Budget and Economic Outlook: 2018 to 2028 | Congressional Budget Office

Get your numbers straight from the CBO instead of using an opinion blog.

 

[kyzr]

It seems that no matter who controls congress the sneaky K-street lobbyists still manage to screw the US economy by adding offshoring tax breaks. That is disappointing since Trump and the GOP ran on ending those practices. i.e. its more than high US corporate taxes that chases corporations overseas.

Even the CBO agrees that there is a tax incentive problem:
CBO confirms GOP tax bill will worsen offshore tax dodging

The Budget and Economic Outlook: 2018 to 2028 | Congressional Budget Office

Get your numbers straight from the CBO instead of using an opinion blog.

I think you missed my point. Its not the "numbers" its the tax dodging provisions.
Using your CBO page, the Debt increased 45% from 2008 to 2018, and is projected to increase about 20% from 2018 to 2028. a 20% increase. Which is better than the Obama years, but still not good enough.

My recommendation is for Congress to fix the tax law to remove the offshore tax dodging provision (saving jobs and tax revenue) then to increase tax revenue by increasing only the top tax rate, and then if they feel real brave, to fix entitlements by saving Medicare and Social Security, which are not fully funded. (the fixes are well documented)