New Tax Bill; Deficits And Special Interests

        Tax reform is needed. Simplicity and reform, not special interests, should be the driver. Instead, the United States ends up with a 479 page document that few have read or reviewed. Interesting how many senators and congressmen assert the tax bill will grow the economy when they themselves have not read it.

        Why the urgent rush to pass the tax bill? Because the Republicans and Trump need a legislative victory, so the reasoning goes. A simple, sensible reformed tax code has been left behind in favor of political posturing, deficits and special interests. Two opportunistic political parties govern the United States, and both pander to special interests.

        The Dow is happy, removed as usual from reality. The Dow is not a living being. It is not a forward thinking indicator. It merely reflects if more money goes into it than what is taken out. And for now money continues to pour into it as the euphoria continues, and as governments worldwide keep making sure stock markets are the only game in town. (Real wealth, a healthy sustainable environment, continues to collapse. Today, for example, the oceans will not welcome, but will receive thousands upon thousands of tons of plastics and other human generated non biodegradable garbage, just as they have been for years. Almost all of this garbage will break down into smaller, virtually indestructible but highly destructive pieces that are impossible to ever remove. The amount of waste entering daily is only increasing.)

         Even if corporate tax rates go to zero, most corporations that have already gone overseas in search of cheap labor and low environmental and labor standards are not coming back with jobs. The new tax bill will not bring back well paying jobs. Some new jobs will be created, while others will be lost.

         Haste makes waste. This 479 tax bill should be released to the public, and there should be time for public discourse and debate before it is passed.