Confusion May Help Democrats Push Tax Hikes

Politico: “To defray the cost of their $2 trillion infrastructure spending plan, they are turning to one of the densest, most impenetrable parts of the tax code in search of revenue. They want to raise hundreds of billions of dollars by changing the arcane rules governing how multinational corporations do their taxes.”

“It is a section of the tax system that even gives tax experts trouble, and it comes with a vernacular that will mean nothing to most lawmakers: GILTI, QBAI, earnings stripping, intangible income, Subpart F, transfer pricing, FDII, BEAT… Most members of Congress don’t understand the first thing about the international corporate tax system and won’t have the bandwidth to figure it out — which should make Democrats’ proposals easier to approve.”