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Dalio Says Benefits From Tax Plan Will Be Small, Costly and Fade

  • ‘We won’t get much long-term mileage’ out of GOP revamp
  • ‘Tragic’ that significant changes aren’t being made, he says
Ray Dalio

Ray Dalio

Photographer: Jason Alden/Bloomberg
Updated on

The U.S. tax overhaul will provide a “short-term minor boost” to the economy that will ultimately fail to impact the nation’s economic, social and political issues, according to billionaire hedge fund manager Ray Dalio.

The legislation, which Congress passed this week, will do little to bolster investment and productivity in the long-term, he said in a LinkedIn post Thursday. While changes to the corporate tax structure -- including slashing the rate businesses pay to 21 percent from 35 percent -- will make the U.S. a more attractive place to do business, the nation would be better off investing more in infrastructure and education, he said.