USA's Tax Reform ( Archived) (125)

It's still in refinement and it looks like a lot of Trump's proposals have been removed and redefined by the house and senate. Any bill that generates revenue has to originate from the legislative branch. Until it's fully finished and into affect, we won't know much for certain in the long run. There are still fines and other taxes that need to be addressed.

Businesses will lose a lot of loop holes. Their taxes will be more cut and dried which means less complication with laws or work around. They're losing "write offs". Big deal. Isn't that what people wanted? for them to get less of a return with fewer loop holes? ( even though it's a really small percentage of government revenues).

People won't have as much of a chance to get back more than they pay in, is what I see so far. We might actually have to learn to live more on our incomes instead of receive some type of annual over payment. It also looks like they raised the level of income required to fit into many of those brackets. We can make more with less pay out in taxes. Child deductions are still there in some form so it won't hurt as much for families as they might make it sound. It looks as though they actually propose making it so both parents can claim a return on a child(divided families in mind here? The U.S. has a ton of those). What it means is that more in our pockets, paycheck to paycheck, with a lot less over payment in taxes. Will this help fix the professional welfare recipients, that some how manage up to thousands of dollars in returns, they've not contributed a single penny into? We have potentially, tens of millions of those.

They can't really project growth as much as we'd like so the predicted outcomes are yet to be seen. How many politicians talk about and address "hedge funds" and such? Bernie campaigned on them plus more and the people went wild with out knowing what he was talking about. They wouldn't have moved hardly at all then; so where's any potential complaint now? In comparison, the tax bracket barriers are just lowered, maybe fewer, so that margins won't be much different. The federal government's largest revenues are from personal income and pay role tax. It still looks like they're keeping the higher end bracket pretty close to what it is now for the 1% over all( with less loop holes). I'm not seeing much that would stop growth or even any markets from moving.

I don't see any thing that cuts government spending. THAT is truly the hurdle that needs to be over come. I love how some articles talk about projected losses but rarely address the actual over spending already being done. How can they even mention "losses" with out addressing the wasteful spending?

About $1 trillion dollars or so a year, is most likely a loss in the way it's spent by the government. Severe over spending has been going on for decades already. It needs to be stopped. You can't talk about one aspect of the spectrum with out taking the other end into account.

The money markets do not seem to agree with your statement, they are fearful of the Tax Reform and the dollar is going downhill. Possibly they know something you and the general public don't!

Stock markets soar whenever business catches the whiff of a corpse. It's organ harvesting. But it's temporary, no big country can employ itself permanently in the trade of internal organs.

The senate appears to vaguely understand this.

The problem with Neoliberals/Thatcherites is that they eventually run out of people who can read or obey the law. It plunders the moment for all it is worth exploiting its inheritance and decimating posterity in the process.

For example Thatcher plundered North Sea oil to facilitate a tax cut for the super-rich and it's painful to look at when you've got Norway literally across the water drawing from the same reserves. We're over a trillion in debt and Norway is 100 billion in surplus because of the iron lady. And instead of receiving a £1000 a year extra for the last thirty years every single man, woman and child in Britain owes the state £30000. Literally the example of doing things right is across the water.

The real risk is McCain will stop the bill . In his sick attempt to undermine Trump . Markets are already reacting to that risk .

Certainly eluded you

Really?? Guess makes you feel tough punching below the belt