Trump’s tax plan calls for the lowest earners to send a one-page form to the IRS saying, “I win.” But they won’t be the only ones declaring victory should his proposals be enacted. Major corporations would have a lot to celebrate as well.
Under Trump’s plan, no business of any size would pay more than 15% of their business income in taxes. Corporations would no longer be able to defer taxes on income earned abroad as they do now; however, a foreign tax credit would guarantee no company would face double taxation. And, Trump would enact a one-time repatriation tax holiday at a 10% rate.
That means companies holding lots of cash abroad such as Apple (AAPL) would finally bring their money back to the U.S.
“The only businesses that would benefit would be those with government contracts to enforcing these new rules — private prisons, security and defense firms,” said Alex Nowrasteh, immigration policy analyst at the Cato Institute, a libertarian think tank based in Washington, D.C.
“Nobody can build a wall like me,” Trump writes in his new book, Crippled America. To enforce U.S. borders, he has proposed securing about 1,000 miles of the southern border with Mexico with a wall. And he aims to make Mexico pay for it.
And if that came to pass, the Mexican government would surely rather source materials locally, including cement from San Pedro-based Cemex (CX) .
Trump said at the CNBC Republican presidential debate that he likes to be unpredictable when it comes to carrying a gun. He has a similar stance when it comes to the Middle East.
“You have to be in a position where people have to be able to guess,” he said in a September interview with Fox News. “They can’t have you be so consistent that they know every single move you are going to make.”