Name:   Talullahhound - Subject:   Impact of tax reform Date:   12/20/2017 10:25:00 PM

No one on either side of the aisle really wants to reduce the deficiet.  The only thing they disagree is how to spend the money.  So I am willing to see even a small cut in my taxes.  We all know that trickle down economics doesn't work.  We'll probably see a bump in jobs at first, but the day that employers figured out they could get more work out of a smaller workforce and not pay them more money, there went any corporate idea of giving their workers raises or hiring more employees, unless they absolutely have to.  They are not going to move jobs back here, until their overseas workers unionize and demand more wages - in other words, when the U.S. becomes a more favorable labor market again.  And they are still doing the dance with whether which side will be the one to close down the govenrment.  But no, they won't - they'll punt it to the next session.  they are going to find the much talked about CHIPS too, but it is nothing more than a bargaining chip.  

I still have no clue if this will turn out to be a good thing or a bad thing and I don't think you'll really know until you sit down to do your 2018 taxes, or maybe Turbo Tax will tell me to lower my quarterly payments.  

One thing to celebrate is that Congress finally did something - passed legislation.  Like most legislation, we won't know if it is a good thing or a bad thing for at least a year or maybe longer.  But damn, they finally got off their butts and did something.  Can we dare for 2018, hope that they'll gain momentum and do something else.  

don't forget that everything that is done, can be undone with ink on the paper.  

And Yes, Architect, I did know about the deduction going away.