Tax reform, or change or whatever.

[wvjohn]

I've been trying to follow this somewhat, but it is increasingly apparent that there is no plan except for cutting about 1 Trill$$ off the taxes of the very rich and corporations already making a bundle. Almost every day there is an article about some loophole hidden on page 327 of draft 6 . It's impossible to even get an idea whether I might be affected. And it seems like a lot of it is based on the old lower taxes means more growth which will eventually mean higher taxes because more income BS. They tried that in Kansas and the state almost went under.

[FlyingPenguin]

They just want to pass ANYTHING and claim victory.

[Err]

Since they are attempting to reduce the tax brackets to 3: 12%, 25%, and 35%, I look for many of the middle class to be placed at 25%. The working poor will probable be pushed to 12%. The rich will get a nice cut. The additional deductions the middle class will receive to offset the increased taxes gradually go away over the next 4 to 6 years.

Basically, they are cutting taxes for their friends.

[Executioner]

I wish they would come out with a flat tax or a consumption tax, and do away with the IRS. Problem is HR Block will be in trouble.