Breaking Down the New U.S. Corporate Tax Law

Mihir Desai, a professor of finance at Harvard Business School,
breaks down the brand-new U.S. tax law. He says it will affect
everything from how corporate assets are financed to how business
are structured. He predicts many individuals will lower their tax
burdens by setting themselves up as corporations. And he discusses
how the law shifts U.S. tax policy toward a territorial system of
corporate taxes, one that will affect multinationals and national
competitiveness. Finally, Desai explains what he would have done
differently with the $1.5 trillion the tax cut is projected to
cost.