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GOP Tax Plan XII: Election Gaming

Another feature of the tax bill – election gaming. The bill features a highly unusual 1-year loophole in 2018 for businesses to buy stuff. And they will, driving the economy crazy. It will then bust in 2019, because businesses will have bought several years worth of stuff in 2018, this will make 2019 a bust year. Since the single greatest predictor of electoral success (or failure) is the state of┬áthe economy –...

GOP Tax Plan XI: Loopholes

Wow, the loopholes in this new tax bill are just amazing! No rich person with half a brain and a decent tax accountant is going to pay more than 20% hereafter. The nominal 37.5% top individual rate is a joke; no truly high net worth individual will end up paying it. Meanwhile on the right they are cheering the changes and promising how this will really improve things for the average worker. Unfortunately the very last thing...

GOP Tax Plan X: Elite Favoritism

The economy is exactly what the elites want it to be. And post the GOP tax bill it will be even more of that. Elites will get an even larger slice of the pie, asset prices will further inflate as even more money chases existing real estate, stocks, and other investable assets. And the middle class – well things continue to get worse, as all the supports go underfunded and none of the abuses or upwards redistribution...