The Calm Before the Storm

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Twas the night before Christmas and all through the House… and Senate – they passed Tax Cuts!  What a glorious day last Friday was when the most profound tax package in thirty years was signed into law. The tax cut earthquake ground zero was in the U.S., but the tsunami it creates will hit the shores of Europe, Asia, and the rest of the world when they wake up in 2018. The most powerful global economic power, the U.S., just cut its corporate tax rate by 40% from 35% down to 21% - well below the OECD average - and the ramifications are incomprehensible. Think about it this way – the blue chip of blue chip country just slashed their prices and every other country in the world woke up to find themselves at a massive competitive disadvantage. Global tax rates are about to fall like dominos. This is a significant global disruptor but a positive for free market capitalism and global growth prospects. Let the 2018 games begin! Please read more about what will happen in 2018 in the 2018 Global Perspectives Forecast: Pro-Business Economy Unleashes Growth.

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