Taxation in the USA is a delicate balance of social policy, fantasy economics, revenue raising, and a solid dose of political hope that it lasts long enough to get an incumbent re-elected without Accountability. Now we're on our way to understanding the Pending Tax Reform.
Congress has just passed and has sent to the President a sweeping change in tax rules and regulations. There is a serious burden shift between corporate taxation and individual taxation. While ultimately only “people pay taxes” I have been on the record of being against this current legislation as it is incomplete and lacks a cohesive bi-partisan perspective that I ...
What are some of the things we should be thinking about?
It will have hills and valleys and undulations and peaks, vistas, views and frustration
We are a $20-Trillion economy; it’s difficult to model this
We have obligations that we want to support, but we have to fund them
We have a lot of demands on infrastructure
What about civic services and humanities?
This is a topic that’s been top-of-mind for us at Morris+D’Angelo for quite some time now. Here’s what we could reasonably know at this point in the discussion. Remember, beyond the uncertainty around the top individual tax rate, the framework of what we know leaves a ...