Larry Fink, CEO of BlackRock Inc. said the tax plan presented by Donald Trump and the Republican leaders would significantly increase the deficit if it is not later amended.
Fink said it would be damaging to remove the reduction in state and local taxes on the plan. "Most likely, this plan will not go through the convention with this provision in it." "Fink said.
In support of Fink's opinion, legendary investor Warren Buffett also said that after the changes he would be forced to buy and sell shares in order to minimize his debts. We have a lot of huge and profitable shares. "I will feel very stupid if I make $1 billion and pay $350 million in taxes, and in a few months the tax rate will drop to 25 percent and turn 100 million back."
Black Rock Chief Executive Officer said he would support corporate tax cuts to between 25% and 27%, noting that BlackRock pays 31% of taxes worldwide, and this is not a problem for the company.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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