Larry Fink is terrified - that corporate tax rates will go up.
According to one person's account of a recent call "with clients of a wealth advisory", the BlackRock boss described a grim future for America, as the country attempts to navigate an arduous path back from economic oblivion.
Among the poltergeist haunting Fink's nightmares: Corporate tax rates as high as 29% or, put differently, corporate tax rates that are still less than they were prior to the Trump tax cuts.
"Even as the US is plunged into deepening economic gloom, it will have to raise taxes to pay for emergency efforts to rescue sectors grappling with a difficult recovery", Bloomberg writes, adopting a dark cadence that suggests raising taxes on corporations is somehow an unthinkable prospect, even in the face of the worst downturn in modern history.
"The 21% corporate rate signed into law as part of 2017’s tax overhaul [could rise] to about 28% or 29% next year", Bloomberg's source said, citing Fink's crystal ball. (Oh, the humanity.)
Fink has a long history of using his annual letters to virtue signal, and one of the most famous instances of that came in 2017, when he excoriated corporate Amer
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