Corporate Finance Extravaganza

(1) Diving into the data to see how TCJA impacts corporate finance. (2) Tax on repatriated earnings treated as capital transfer from business to Treasury. (3) Moving from worldwide to territorial corporate tax system still leaves taxes to be paid on GILTI and BEAT. (4) Tax cut and capital consumption adjustment lift after-tax profits from current production and cash flow to record highs. (5) TCJA already lifting capital spending significantly among S&P 500 companies. (6) Protectionism is a potential wet blanket.