One company makes all its profits in the U.S. The other makes most of its profits abroad. Both will see their tax rates jump under the changes proposed by Democrats—but for different reasons.
Proposed tax increases on domestic and foreign profits would drive rates up for Agilent and Advance Auto, but in different ways
The Democrats’ plan to pay for President Biden’s $3.5 trillion Build Back Better initiative will need to strike the right balance to appeal to progressives without alienating moderates. WSJ’s Gerald F. Seib discusses with tax policy reporter Richard Rubin. Photo illustration: Todd Johnson
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