This is NOT good - let's shoot the country in the foot AGAIN!
Wall Street is ringing the alarm bell on a proposed tax of up to 20% targeting foreign investors in the U.S. budget bill progressing through Congress.
This “revenge” measure potentially affects institutional investors, sovereign wealth funds, pension funds, government entities, as well as retail investors and businesses with US assets.
Morgan Stanley said in a note that the new tax would weaken the dollar, as it would reduce foreign appetite for U.S. assets. Another analyst indicated this new tax rate was "playing with fire."
https://www.msn.com/en-us/money/markets/wall-street-fears-foreign-tax-in-budget-bill-may-reduce-allure-of-us-assets/ar-AA1FMuh6 #Taxes #Budget #Investors #Bonds #WallStreet #ForeignInvestors #USDollar #USGov