A new 12k standard deduction, 24k for married people.  Small business tax rate of 25%. Meh. Hardly wonderful. Large businesses  get a 20% tax rate.

But where is the mortgage interest deduction? And the Property tax deduction?

For a modest home, that can add up to $10,000.

The horrible AMT tax and estate tax would go. Thats probably the best part of the plan.

What we have done, however, is make owning a house much more painful. It’s probably a wash though.

Middle class would face a 25% tax rate, a RAISE but again with the larger deduction its a wash.

Equipment write offs would be immediate not over time.  This makes sense.

Overall, it’s not quite aggressive enough.   We need a Minimum Tax for large businesses who have sales over 50M.  Say 5%.  No more should Apple and GE get away with paying zero taxes.  That would be a big change, a real change which imposes some real justice.

Trump briefly mentioned a 4th tax bracket for the super rich. That’s probably unlikely to make it in.

Overall, well progress of any kind is good. But its DOUBTFUL this is a big tax cut for the middle class, only for the LOWER middle class. The Upper middle class is either a wash or getting the shaft. This is not the big cuts that would make a big revolution in America.

A 25% tax on small business isn’t that great. 18% would be more realistic.

As far as onboarding offshore cash made from offshoring our factories, Trump wants to give them a pass. FK that.  They should get double taxed.  Another wrong direction.