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 big business does with excess earnings is raise wages and improve benefits. Because that does nothing to boost executive bonuses. Most likely it will go to stock buybacks, which artificially boost share prices and trigger bigger bonuses. It is really so precious how naive some people are about how big business really works in 2017.
Leave a Reply