a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by b_b
b_b  ·  2307 days ago  ·  link  ·    ·  parent  ·  post: Republicans Push Trump Tax Bill Through Senate

The thing about this bill is that it's not going to last 10 years. Democrats will repeal it as soon as it's their turn. Hopefully they horror of it will be obvious enough that they can sell it as "reform" and get a few Republicans to sign on. If not it will be a see-saw for years. This bill brings with it such enormous uncertainty that if I were a financial planner, I'd warn my clients against doing too much long term planning with assumptions that this bill is going to around forever. If nothing else, Democrats are going to put back SALT and either reinstate the inheritance tax or at least cancel the step up basis loophole. I've never wanted to see the Democrats follow Mitch McConnell's lead on pure obstruction, but what choice do they have? Good luck to McConnell getting any Democrat votes on their next economic terrorism (government shutdown) bill. The president is melting down, the GOP may lose a seat in Alabama, and the tax bill's approval rating is like 20%. There's no reason to play nice right now.





snoodog  ·  2306 days ago  ·  link  ·  

The tax bill sucks, although I think personally I’ll end up ahead by a couple hundred dollars. I do wonder what the democratic version of the tax bill will look like. I have a feeling I’ll be paying a whole lot more in 3 years as a consequence of this Republican approach. The democrats are going to vote for more service but probably also more corporate giveaways and odds are it’s coming out of my tax bracket. 1% ers will remain untouched of course