Relax, Everything is Going to be Okay!

[Treeshark]

It will be fine if you are a corporation or shareholder. If you are an individual that pays income tax, your bill will continue to increase.

True story. Just like it’s always been, but a bit more.

There has never been a better time to be an entrepreneur or investor.

 

[BigHornRam]

Looks like we now know what the donations for the Ballroom paid for...

Trump Goes Outside the Law to Give Even More Tax Cuts to the Wealthy

Trump's Treasury is overstepping far beyond its constitutional role by giving unlegislated tax cuts to the wealthy.

itep.org

Steve's a big lefty. Worked for Bernie Sanders. He should work on improving his own party, before it becomes extinct.

Steve Wamhoff - Previously held position: Senate Budget Committee (Jan. 2015-May 2017) Sen. Bernie Sanders (I-VT), Senior Analyst, Tax - Biography | LegiStorm https://share.google/HsyIElx4AYzYWjIOE

 

[SAJ-99]

Steve's a big lefty. Worked for Bernie Sanders. He should work on improving his own party, before it becomes extinct.

Steve Wamhoff - Previously held position: Senate Budget Committee (Jan. 2015-May 2017) Sen. Bernie Sanders (I-VT), Senior Analyst, Tax - Biography | LegiStorm https://share.google/HsyIElx4AYzYWjIOE

When the economist for the AEI calls it out as being illegal you should be concerned.

 

[SAJ-99]

True story. Just like it’s always been, but a bit more.

There has never been a better time to be an entrepreneur or investor.

Maybe, but I'm not sure it is positive for society. Plenty of people seem to be upset despite solid gains in portfolios.

Let's not miss the point of what I posted. META has had a historic effective tax rate of less than 15%. The Corp Alt Min tax (CAMT) caused it to report a tax charge of $16B in Q3. Put a 20x multiple on that and the company value got hit by $320B. To mitigate the damage, the CFO classified it as a "non-cash" expense and said “We continue to expect we will recognize significant cash tax savings for the remainder of the current year and future years,”. (I note it hasn't helped much as the stock has lost 20%. The C-suite stock sales in Jan and Feb look really good right now.). The OBBB didn't change anything in the CAMT (either through error, stupidity, or intent). So how could the CFO know that there will be significant savings in the future? Because she knew the Administration would give new IRS guidance on how the firm could avoid the tax.

So yeah, people can be very happy if they made money investing in stuff like META or PLTR or whatever. But they certainly aren't as happy as the CEOs. People can certainly believe Federal spending and costs should be controlled, but it is hard to justify mega corporations not paying a fair rate in taxes. The justification is always "jobs", but they are basically saying to the people "you should be happy to have a job, so pay your taxes" while the Corporate overlords make billions tax-free.