Trump talks tax reform with retailers; Brady meeting up next

But the foundation's analysis of the impact of so-called border adjustment taxes on reducing imports and promoting exports of US made goods - a centerpiece of President Trump's trade strategy - said that there would be likely no change in the amount of goods sold overseas from the current system of "origin" taxes. The idea has also been used to keep companies from moving production overseas.

Retailers took their fight against the proposed border adjustment tax to Washington today. It would be a fundamental change to the tax accounting treatment on imports and exports.

National Retail Federation (NRF), the industry's largest trade group, has estimated that the tax would cost the average U.S. family $1,700 in the first year alone if enacted. When the President Donald Trump spoke about the meeting, he never mentioned import taxes.

The discussion on the border tax has just begun.

Americans for Prosperity is stepping up its efforts to advocate against a proposal from House Republicans to tax imports and exempt exports, as lawmakers are increasingly raising concerns about the proposal.

The proposed tax would cause the inevitable decline of auto sales, as many consumers would instead choose to visit a pre-owned lot or choose to hold onto their current vehicles for a longer period.

On arguments of unfair pricing by importers, proponents of the border tax say that a stronger environment for domestic producers and a lower trade deficit will push up the value of the dollar.

Brady co-authored the blueprint that would require US retailers who now pay taxes only on the profit made from the sale of an imported product to also pay taxes on what it cost to buy it from overseas.

Even on a higher greenback, there will likely be losers in a border tax adjustment. "Anything that raises prices for families is not a good idea for America".

Firms now pay corporate taxes on their profits.

Supporters of the border tax also set up the American Made Coalition. These disadvantages are found not only in the United States but also outside the country as well. Sales rebounded in 2016 after a hard year for the oil & gas segment but the company has repositioned to focus on its industrial segment.

Trump and members of his administration have yet to weigh on their view of a border adjustment tax.

The company has an unbelievable $99 billion in balance sheet cash, almost 38% of its market cap, and has aggressively paid down debt over the last two years.

As a outcome, corporate tax will be assessed not on business profits (as they now are) but on a cash flow basis - that is, revenue from domestic sales less "deductions" relating to domestic sales and inputs. It will also create an incentive for taxpayers to shift costs from the export division of their business to the import and domestic divisions where they will receive a deduction for expenses incurred.

There is no distinction - the two provisions are one and the same. That helps their exports avoid double taxation, while US exports don't, he said. Several other Fair Tax backers in Washington, D.C. have been trying to parse their positions on this issue - without success. Wal-Mart Stores is the top, followed by Target and Home Depot. Sales have grown at a paltry 0.9% annualized pace over the last three years while operating expenses have grown at a 2.9% rate over the period.

As expected, one of the key discussion points was border-adjustment tax.

Governor orders Dakota Access Pipeline protesters to evacuate camp by Feb. 22
Liberty football moving to FBS, reclassification begins in 2018