Read the entire Republican tax reform plan, here are my thoughts/analysis:
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2. It’s a huge giveaway to big multinational corporations and millionaires + billionaires.
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3. If you’re a couple with an estate over $11 million you just got a tax cut—leaving everyone else to pay the bill.
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4. It repeals the state and local income tax deduction—double taxing hardworking Americans. 43% of Marylanders used this in 2015.
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5. Uses the same trickle-down economics playbook that failed during the Bush Administration.
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6. When the debt eventually explodes, Republicans will rediscover their “deficit hawk” ways and cut Medicare, Medicaid, and Social Security.
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Here’s the thing: Our tax code should be simplified. But this bill isn’t really tax reform, it’s a giveaway to the wealthy and powerful.
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End of conversation
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Some exceptions: NV-resident with high-income wage-earner and spouse with 100% capgains treatment. Estate moot; too young; 2x deduct a JOKE.
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