The Republicans, now in charge of House, Senate, and Presidency, succeeded in putting through a pretty decent tax cut right before Christmas. This tax cut will affect all Americans as of pretty much right now, January or February of 2018. If you want a summary of all the changes, this page lists them succinctly.
The tax cuts are actually pretty significant. The right-wing is celebrating, and the left-wing is screaming that they mostly benefit the rich and corporations, which for the most part is true. Not that it should bother you.
I have to separate my analysis of this into two very different parts: how this affects me personally (and people like me) and how this affects the United States as a nation. The bottom line is that these tax cuts are fantastic for me personally, but another big step towards collapse for the USA. I will explain.
How They Affect Me (And People Like Me)
For me, the self-employed Alpha Male 2.0 living in the US, in a state with no income tax, and paying American taxes, which are some of the highest in the world, these new tax cuts are fucking awesome. I am going to make many thousands of dollars more next year even if my net pretax income doesn’t rise (which it usually does). The cuts reduce taxes for corporations (I own one), reduce taxes on pass-through income (which is the vast majority of my income), reduce my tax bracket anywhere from 6% to 14% depending on how the numbers shake out next year, and eliminate some or all taxes earned abroad.
I’m going to have a very, very good year next year, due in no small part to these tax cuts. I am extremely pleased. Finally, Trump and the corporatist Republicans did something I actually like. (I guess one thing 1 out of 30 isn’t bad, right?)
Now the flip side…
How They Affect The USA As A Nation
While these tax cuts are great for people like me and you, they spell doom for the USA. The USA was already destined to collapse, of course, but as I explained here, cutting taxes while raising spending increases the debt, dampens economic growth in the long-term, and hastens the date at which your nation will collapse economically.
Exactly as I expected, Trump and the Republicans are now doing exactly what they always do when they’re in power (just like when Idiot Bush was president); they’re cutting taxes and raising spending, which will skyrocket the already insane debt and deficit. Proof of this: the very next bill Trump is working on after this tax cut is, I shit you not, a massive infrastructure spending bill. This is just after he increased military spending by $80 billion a year(!).
Goodbye, America. It was nice knowing you.
If Tantrum Trump and the Republicans in power actually gave a shit about saving the USA, which they do not, they would not only cut taxes, but they’d also slash government spending all over the place like mad men. But since Republicans love big government, that’s never going to happen. Thus, America’s eventual collapse is inevitable (barring an unexpected technological revolution).
Do I care? Of course not. I haven’t cared about America for about 15 years. However, it’s very odd to me that the very people who say they care about the future of the country (right-wingers) vote for the very people who actively destroy it, while a guy like me who doesn’t give a shit at all, if I voted (which I don’t), would vote for people like Ron Paul who, love him or hate him, would be far less damaging to the nation long-term than corrupt corporatists like Idiot Bush or Tantrum Trump.
Isn’t that funny?
My Recommendation To You
My recommendation is, as always, to exploit your slowly collapsing society to extract as much personal benefit from it as you can while the getting is good. If dickheads like Tantrum Trump, the Lizard Queen, or Comrade Bernie are hell-bent on destroying this country and there is nothing you can do to stop them (which there isn’t), then you might as well make as much money as you can, while you can.
If you’re an American, you need to take advantage of these tax cuts right now. Make as much money as you can in 2018 and 2019. Most of these tax cuts end in 2026, but, as I’ve said before, we are one or two presidential cycles away from an openly socialist president as the nation continues to move to the left. If Comrade Bernie or one of his disciples takes the presidency and congress in 2020, you can virtually guarantee that these tax cuts will be completely eliminated by mid-2021.
This means you may only have four years to take advantage of these lower taxes. That’s not a lot of time.
Get your income up. Now. Start a business now if you haven’t yet. If you already have a business, work hard to expand it as fast as you can. If you have a business but you have not yet incorporated, do it right now so you can take advantage of these new low corporate taxes and pass-through income.
The clock is ticking. The faster you make money, the more of your money you’ll keep from these new lower taxes. It is entirely possible, and I mean this, that you will literally never see taxes this low in the United States ever again.
Enjoy the decline! And get to work!