A lot of people I know no longer read about the tax bill given that it is now a done deal, thoroughly depressing and taking time away from doing something that looks forward towards 2018.

I still think there is one bit to remember, though, that has not been as much in the news as the other regular Greed Over People items that we had to digest. And it will affect Trump’s base.

Parts of the Act that dealt with international issues seems to violate World Trade Organization agreements. The GOP either will have to revise major parts of the bill or face sanctions.  The international system as set up by the bill actually loses the US money and increases the incentive to offshore assets and incomes.

Given that changes need to be made, businesses are understandably worried to plan on a basis that shifts under their feet; and given that the 21% tax cut is not set in stone, in our unstable political environment and with mid terms looming, I would not be surprised if corporations continue to look for cheaper tax rates in other countries rather than investing in our own.

Here is a short and acerbic summary of it all: https://www.thenation.com/article/the-republican-tax-bill-codifies-a-new-gilded-age/

It could also be summarized like this, ( I lost the source for this quote, alas.)

 

 

Jobs, then, might again be traveling overseas. I am traveling next week as well, so reports might be intermittent. Wishing each and everyone health, peace for the next year and an unlimited supply of energy to wo/man the barricades!