I'm self-employed so I'm used to the heavier tax burden.
I should not have been so flippant in the original post so I'll elaborate a little. My general feeling is that they'd reconcile the two bills and I'd probably come close to breaking even. So we have wide swaths of the country that would be breaking even. Which means that the increase to the deficit would be caused by returning funds to the wealthier class at a time where we have a huge gap and a growing economy. I would rather restructure the tax code and then leave the option for tax cuts when we enter a recession. I fear that overheating the current economy could cause a recession and then we'd have fewer bullets to use in defense.
If I am self-employed small business with employees and I don't see much of a difference, who are they really trying to help to generate the growth?
To answer your question about the tax hit and whether it matters, my bill wouldn't double or be cut in half but it is an impact. May not miss it that much if I have to pay it and would not measurably increase our lifestyle if I save money. While I would rather pay less tax, I also would prefer to have a more balanced economy and I do not share the trickle-down theory that many espouse. I would love it if we could simplify the code, collaborate to fix the problems with Obamacare, ensure we are organized in dealing with world threats and help improve the efficiency of the government. I would also like to fly on a unicorn and grow a money tree in my backyard.
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In response to this post by Hokie5150)
Posted: 11/29/2017 at 12:15PM