January 2018 Data Update 3: Taxing Questions on Value
aswathdamodaran.substack.com
If you have read my prior posts on taxes, you already know my views on the US tax code, especially as it relates to corporate taxes. Without mincing words, the US corporate tax code, as it existed in 2017, was an abomination, a carry over from a prior century where the US was the center of the global economy and companies would do anything demanded of them, to preserve their US incorporation. I was therefore predisposed to favoring tax reform and Congress delivered its version towards the end of 2017. While the process was messy and partisan, it represents the most significant change in corporate taxation in the United States in the my lifetime, and as with all tax reform, it is a mix of the good, the bad and the ugly, with your political priors determining which one you believe dominates. No matter what you think about the tax reform package, there is the one thing that is not debatable: it will impact equity value and affect corporate behavior in the coming year.
January 2018 Data Update 3: Taxing Questions on Value
January 2018 Data Update 3: Taxing Questions…
January 2018 Data Update 3: Taxing Questions on Value
If you have read my prior posts on taxes, you already know my views on the US tax code, especially as it relates to corporate taxes. Without mincing words, the US corporate tax code, as it existed in 2017, was an abomination, a carry over from a prior century where the US was the center of the global economy and companies would do anything demanded of them, to preserve their US incorporation. I was therefore predisposed to favoring tax reform and Congress delivered its version towards the end of 2017. While the process was messy and partisan, it represents the most significant change in corporate taxation in the United States in the my lifetime, and as with all tax reform, it is a mix of the good, the bad and the ugly, with your political priors determining which one you believe dominates. No matter what you think about the tax reform package, there is the one thing that is not debatable: it will impact equity value and affect corporate behavior in the coming year.