@Cycloptichorn,
Cycloptichorn wrote:
Not really. There was some reasonable language regarding the classification of S-corps, but the vast majority of it was a tortured attempt at justifying tax cuts for groups who literally don't need them. It had no clear goal and isn't 'reform' in any sense whatsoever. It doesn't simplify the code. It gets rid of important deductions for middle-class families with zero justification for doing so, other than giving the wealthy and corporations a handout. It has language defining an embryo as a 'human' in a stealth attempt to weaken or outlaw abortion.
It's a ******* stinker from top to bottom.
Cycloptichorn
Yeah the embryo stuff was a joke. Not even going there.
I really did like the idea of getting rid of some of the deductions that only some people can take and others don't though. Stuff like mortgage interest and child care deductions. But only because the standard deduction was doubled for everyone.
Renters and childless people shouldn't end up paying more federal taxes because people choose to buy more house than they normally would or choose to have children.
I was not a fan of anything lowering the tax rates on people making over 200k/yr. I'd even go as low as 125k/yr for childless families.