Is Trump’s Tax Reform Right For You?
The only certain things in life is death and taxes. However under the Trump administration’s new tax reform, the latter might be a little bit easier of a burden to bear. Despite all the socialist propaganda, everyone wants reduced taxes and all the celebrities who tell you how to think and how to act with your money while living in multimillion dollar homes, driving expensive cars, and eating fancy foods; not a single one of them has ponied up to pay more in taxes as they wish for everyone to do. Put your money where your mouth is Matt Damon!
For years and years, we’ve heard people telling us how we need to pay more taxes, but the biggest source of freedom and liberty we have is our individual financial security. The more disposable income you have, the more of life you get to enjoy. You might be able to take that family vacation and build memories that you haven’t been able to afford the last ten years. Maybe you’ll be able to pay down some debt that will allow you to make better investments or put more money into savings for your golden years. The possibilities are endless and they’re mostly positive.
The new cuts are major. This plan calls for the corporate tax rate to be cut by fifteen percent. For those of you bad at math, you’re saving fifteen cents per dollar. It may not seem like much but in theory, it could produce an increase in wages or decrease in the price of the goods/services we purchase. Which is always nice. The second big part of the reform is the dropping the tax brackets for individuals from 7 down to three and nearly double the deductions for individuals and married couples.
In simple terms of what this means to you, we predict that we’ll either get paid more and the crap we want to buy will cost less. Some of us are definitely going to be buying more guns…and bacon.
Obviously, this move infuriates the Democratic opposition who believes it’s their right to not only take as much of your money as they can, but to then use to on frivolous government programs that run rampant with fraud, waste, and abuse. Anyone who was in the military can tell you about the obscene amounts of fraud, waste, and abuse by a government entity. Despite some of the recent delays in Trump’s policies coming to fruition, this is a definitive win for his presidency if it turns out like it should.
This is a broad strokes plan and although the details of the plan are going to be hashed out in Congress (where we might end up getting screwed), President Trump’s tax reform is a step in the right direction for America. Anytime we deprive the government of reaching further into our pocketbooks, it’s a successful day.