Breaking Down the New U.S. Corporate Tax Law

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 26 December 2017

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mihir Desai, a professor of finance at Harvard Business School, breaks down the brand-new U.S. tax law. He says it will affect everything from how corporate assets are financed to how business are structured. He predicts many individuals will lower their tax burdens by setting themselves up as corporations. And he discusses how the law shifts U.S. tax policy toward a territorial system of corporate taxes, one that will affect multinationals and national competitiveness. Finally, Desai explains what he would have done differently with the $1.5 trillion the tax cut is projected to cost.

Transcript

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0:00.0	The Closer Podcast brings you the inside story of deals changing the world, told by the people who know how it all went down.
0:09.0	Understand the human motivations behind groundbreaking business decisions with host Amy Keene.
0:14.6	Listen to The Closer, Cast from Harvard Business Review. I'm Sarah Green Carmichael.
0:34.3	President Trump has signed the GOP tax bill into law, but the new tax code has a
0:39.8	big win for his administration.
0:41.4	Yeah, check out that signature yesterday using a very big bold marker.
0:45.6	He signed into law the $1.5 trillion tax plan.
0:49.1	His first major...
0:50.1	And jobs are produced through companies and corporations and you see that happening.
0:55.0	Corporations are literally going wild over this.
0:57.9	I think even beyond my expectations, so far beyond my expectations.
1:02.4	How would its impact be felt not only in the U.S.
1:05.4	but also around the world?
1:07.6	For an expert look at that, we reached out to Meher Desai.
1:11.3	He's a professor of finance at Harvard Business School, an expert on
1:15.4	business taxation. He's the author of the 2012 HBR article, A Better Way to Tax
1:20.8	U.S. Businesses.
1:21.8	Meher, thank you for talking with us today.
1:24.0	Oh, it's a great pleasure, Sarah.
1:26.0	Thanks for having me.
1:27.0	Do you have an opinion on, say, like the three biggest changes to the corporate tax code?
1:32.0	Yeah, sure.
	...

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