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Type:
Financial research report
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2.1 MB
Summary
This document is page 13 of a Bank of America Merrill Lynch 'Equity Strategy Focus Point' report dated January 29, 2017. It analyzes the economic impact of proposed 'border adjustment' tax policies on US corporate taxation, specifically detailed how net importers would suffer while net exporters would benefit. The document bears a 'HOUSE_OVERSIGHT_023081' Bates stamp, indicating it was produced as part of a congressional investigation, though no specific individuals (such as Jeffrey Epstein) are mentioned in the text of this specific page.
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"We estimate that at a 20% tax rate, border adjustments would detract $5-6 from 2018 EPS"Source
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"net importers (such as many retailers) would suffer, as they would have to pay taxes on their domestic sales without being able to deduct a significant portion of their costs of production."Source
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"net exporters... would stand to benefit from not having to pay taxes on their foreign sales"Source
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