Tax bill approved - finally.

There is a great divide between Republicans and Democrats. The Republicans want to maximize opportunity for those who run businesses that provide jobs. The Democrats want to tax those who earn money so they can distribute it as "benefits" and earn votes and power.

As a consequence, Dems hate tax cuts. Not one of them voted for the tax cuts that just passed Congress.

There will be consequences of these events, you can bet on that. Here are some points you may/may not have heard:

1. It is a real cut for those who are earners and pay federal tax, no matter what the Dems say about it.

2. The tax reform ends federal subsidy to the high tax states by making state income tax non deductible. That is why the Dems bellyache that this bill raises taxes. People who live in high tax states will have to take steps to lower their state income tax.

3. The tax reform lowers business costs and sets in motion years of faster growth. Businesses will keep more of their earnings, invest them, hire more people or spend them as dividends.

4. The tax reform addresses the inherent unfairness of the tax code though does not eliminate it.  Consider that the more successful a business is, or the higher an individual's earnings, the higher their tax rate. That is not fair. All earnings should have the same tax rate. In fact, the country grew fastest when it did not have an income tax.

5. The Socialists want to reduce income inequality by taxing income three times: 1) when it is earned by business; 2) when it is paid to individuals and 3) when wealth is passed through inheritance. The inheritance tax shouldn't just be lowered, it should be abolished. If we are to tax income, it should be done only once.

6. Expect an increase in economic growth. Lower taxes will add to the effects of reducing regulation. The Democrats hate this. They want to reduce the population, because in their ideology citizens cost money because of their benefits. People earning more and keeping more of it will encourage higher birth rates. Another thing Dems hate.

7. Finally, the tax reform bill have achieved two other  goals of the GOP that will help the country: 1) it ended the individual mandate of Obamacare (and without that Obamacare is dead) and 2) it allowed drilling in Alaska's ANWR area.

The bill is not ideal, but it is a good one. It will help the Country enormously. How can we be sure of this? The Dems hate it.