US Brokerage Giant Morgan Stanley Paid US Federal Income Tax Rate of 0.7% in the Most Recent Five Years, 34.3% Below the Statutory US Federal Income Tax Rate of 35.0% ...................................................................................... The Free-Spending Trump Administration Reacts By Irrationally Trying To Force the US Senate To Lower US Federal Income Taxes on Large Corporations By Another 43% By Reducing the Statutory US Federal Income Tax Rate From 35.0% to 20.0% ...................................................................................... Since Goldman Sachs Paid a Substantially Higher US Federal Income Tax Rate of 31.6%, Perhaps Goldman Sachs Should Hire Morgan Stanley's Creative Income Tax Experts? Goldman Sachs Stockholders Have to be Very Disappointed With Their Company's Dismal Execution on Income Tax Strategy, Similar to How Ex-Goldman Sachs Executives Steve Mnuchin and Gary Cohn Have Performed on US Government Income Tax Policy ...................................................................................... Goldman Sachs Also Has $39 Bil and Morgan Stanley $12 Bil of Foreign Earnings They Will Be Able to Repatriate Cheaply Under the Trump Tax Proposal

Based on a review of their audited annual income tax and business segment footnotes filed with the SEC, below is the US Federal Income Tax Paid along with the related US Pretax Income for each of the most recent five years of the 2 US Giant Brokerage Firms:

																Total	Total
																5 Years	5 Years	5 Years
	2016	2016		2015	2015		2014	2014		2013	2013		2012	2012		2012-16	2012-16	2012-16
	US	US		US	US		US	US		US	US		US	US		US	US	Effective
	Tax	Pretax		Tax	Pretax		Tax	Pretax		Tax	Pretax		Tax	Pretax		Tax	Pretax	US Tax
	Paid	Income		Paid	Income		Paid	Income		Paid	Income		Paid	Income		Paid	Income	Rate Paid
	mils $s	mils $s		mils $s	mils $s		mils $s	mils $s		mils $s	mils $s		mils $s	mils $s		mils $s	mils $s
Goldman Sachs	1,032	6,352		1,116	3,359		1,908	7,144		2,589	6,794		3,013	6,956		9,658	30,605	31.6%
Morgan Stanley	330	5,694		239	5,360		(604)	1,805		229	1,738		(102)	(1,165)		92	13,432	0.7%