Michael Rapoport

In this discussion, Bloomberg Tax senior reporter Michael Rapoport brings insights into the controversial Section 899, also known as the 'revenge tax.' He explores how this proposed tax could impose harsh rates on countries the US considers unfair in their taxing practices. Concerns arise over potential job losses and diminished foreign investment in the US economy. Rapoport also highlights how this measure might tarnish the US's reputation as a business-friendly environment while stirring up debates over its diplomatic implications.