1.0Verbank Advisors & Agriculturehttps://verbank.luverbankfarmshttps://verbank.lu/author/verbankfarms/rich600338<blockquote class="wp-embedded-content"><a href="https://verbank.lu/november062017/">US + Brazil Financial News (11/06)</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- /*! This file is auto-generated */ !function(c,d){"use strict";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),n=d.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),o=0;o<n.length;o++)n[o].style.display="none";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if("link"===t.message)if(a=d.createElement("a"),i=d.createElement("a"),a.href=r.getAttribute("src"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener("message",c.wp.receiveEmbedMessage,!1),d.addEventListener("DOMContentLoaded",t,!1),c.addEventListener("load",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf("MSIE 10"),a=!!navigator.userAgent.match(/Trident.*rv:11\./),i=d.querySelectorAll("iframe.wp-embedded-content"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute("data-secret"))t=Math.random().toString(36).substr(2,10),e.src+="#?secret="+t,e.setAttribute("data-secret",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute("security"),e.parentNode.replaceChild(t,e)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="https://verbank.lu/november062017/embed/" width="600" height="338" title="“US + Brazil Financial News (11/06)” — Verbank Advisors & Agriculture" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>UNITED STATES   Fiscal policy is the wild card in macroeconomic management, usually, badly played. The current tax cut proposal is an example. Admittedly, what the House is likely to pass this week will change in the Senate. That will be the proposal that counts. And, as with all tax legislation, “the devil is in the details”. Even so, on the corporate tax side, the broad outline of the bill, which analysts say has a 2/3 probability of becoming law, is clear: Lower corporate taxes; pro-investment changes in the rules for capital depreciation; incentives for the repatriation of profits held abroad by US corporations; limits to interest deductibility (that biases the capital structure of firms towards debt over equity financing); elimination of tax privileges targeted to specific activities or groups (that bias the allocation of capital). These items of the proposal are also those with broader bi-partisan support, and with broad consensus among economists and tax specialists. Over the long run, and absent countervailing effects, they should lead to increases in competitiveness and productivity, boosting future output, employment and real incomes. From a timing perspective, however, the proposal—that would have been welcome in 2008/2009—may be ill-timed a decade later. Today, the […]