Saturday, July 29, 2017
MarketWatch, These 7 Highly Taxed Companies Need Congress to Finally Act on Tax Reform:
Memo to Republicans in Congress: It’s time to move on.
Your efforts to strip insurance away from millions of Americans — I mean, reform Obamacare — are only making you look bad. And I’m not talking about the “mean” plan that the House passed that shows how many in the GOP lack basic compassion for their fellow Americans, or the infighting that’s making your party look directionless and weak-willed.
Honestly, as an investor, I could care less about all that. What I really care about is what you promised months ago: comprehensive tax reform....
Here are seven U.S. companies with tax rates of at least 35% that are hoping for your help:
Considering how connected the world is, it’s impossible for Verizon Communications Inc. VZ, +1.22% to be exclusively a domestic telecom player. However, its most recent 10-K notes that “The majority of Verizon’s cash flow is generated from domestic operations” — and also notes a 35.2% effective tax rate in fiscal 2016. That makes tax reform, if it happens, a juicy opportunity for this company. It’s also worth noting that any incentive for telecom infrastructure investment would also benefit Verizon, as would rolling back so-called “net neutrality” that could allow the telecom giant to prioritize its newly acquired digital properties Yahoo and AOL. There’s a lot for Verizon shareholders to like if Washington policies tilt its way in 2017....