It’s not just the ultra rich, as well as a dazed and confused Bob Corker who is set to reap a $1+ million windfall from the passage of a tax bill which he opposed until just days ago, who will benefit from the passage of tax reform: according to Goldman Sachs among the biggest beneficiaries from the GOP tax cuts are, drumroll, the big banks. In an analysis from Goldman’s Richard Ramsden, the FDIC-insured hedge fund writes that based on its “preliminary analysis of the current tax bill under consideration by Congress, our EPS estimates for our coverage would increase by 13% on average if the US statutory rate were to be reduced to the proposed 21%, all else being equal.”
proposed tax changes (e.g., the base erosion tax, the DTA
and deemed repatriation), as well as the prospect of the bill itself
changing from the current proposal.
This is shown in the table below:
This post was published at Zero Hedge on Dec 18, 2017.