There Will Not Be Tax Reform; There Will Never Be Tax Reform

But There Will be Tax Cuts for the Wealthy and the Corporations

On tax policy, the conservatives and their enablers in the media are sitting pretty. They have convinced everyone that they are pursuing tax reform. Why? Because everyone loves reform. Who is against reform? No one.

So the tax cuts that are coming  will first of all cut the bejeesus out of the corporate tax rate. Corporations are already drowning in cash. They don't spend it, they don't invest it because they want to reward shareholders who drive up share prices and that rewards corporation execs. Workers, well they are on their own.

Then there will be a big cut in top rates for the wealthy, an elimination of the estate tax which allows greater concentration of wealth and a cut in deductions for middle class Americans. Taxes will be more difficult, but that's okay because the tax prep companies will be protected by limiting IRS support.

So look forward to a great time for the rich, the working Americans, not so much.