Canada, Europe and China are focused on the US tax cut bills bringing US corporate tax rates down to the average OECD tax rate. A likely response will be further corporate tax cuts in a global race to the bottom.
European governments and businesses are warning that the US tax plan will favor US companies. This is preparing the way for more corporate tax cuts in Europe.
Chinese officials refer to the GOP bill as a “gray rhino” and are preparing new rules to counteract the tax bill does not lead to large capital outflows from the country. Such changes could include tighter capital controls, higher interest rates, and more intervention to support the country’s currency.
The non-partisan Joint Committee on Taxation estimated that under a GOP tax cut bill the US GDP would be 0.8% percent higher, employment would be 0.6% higher, and personal consumption would be 0.6% higher during the 2018–2027 period due to the Act. Implementing the Act would add an estimated $1.4 trillion to the national debt over 10 years, or $1.0 trillion after macroeconomic feedback effects, in addition to the $10 trillion increase forecast under the current policy baseline.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.