Wow, you can sure tell that Wall Street / Deep State corporatists love Trump's tax cut plan. Over at MSN News, the first two pictures show the Donald smiling in front of an American flag, and another with him giving the thumbs up as he emerges from Air Force One. Quite a change from their usual 'coverage' of Trump.
Gee, could it be the new 20% corporate rate that has them excited (down from 35%), or perhaps it's the total repeal of the Estate Tax (which currently kicks in on estates over ~ $5.5 mil)
For us small fry in fly over country, they double the standard deduction, but in exchange for vaporizing most itemized tax deductions. The powers that be have been wanting to get rid of itemized deductions for decades, but that hasn't been possible since each deduction has a strong political lobby. Once these deductions are gone they're gone forever, and it'll then be much easier for the Deep State to raise taxes later by merely changing the brackets. But for now, doubling the standard deduction will be fine for folks who don't itemize anyway.
Encouraging the repatriation of corporate profits held overseas is a great idea, and upwards of $10 trillion could conceivably come back to the US. Cutting taxes could get the economy moving and help bring back the lost manufacturing jobs.
However,
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