The Way We Live Now: explaining things very slowly. Over the past few days, we've heard lots of chatter from the chattering class over our new American tax structure. Is it "fair?" We'll break this down as simply as possible.
WHO DOES THE NEW TAX PLAN HELP?: Everyone trying to get a job, everyone trying to pay less taxes on their fabulous wealth, Americans.
WHO DOES THE NEW TAX PLAN HURT?: Poor people, who are hurt by everything. Communists. And you'd think Democrats, but no; Democrats win by losing.
DO POOR PEOPLE GET 'GOOD VALUE' FROM THE GOVERNMENT FOR THEIR TAX DOLLARS?: Sure they do. Not as much value as the rich get from poor people's tax dollars. But good enough.
IS SPENDING A TRILLION DOLLARS OVER THE NEXT DECADE TO SUBSIDIZE THE PROFITS OF THE PRIVATE EQUITY INDUSTRY REALLY A GOOD USE OF OUR PRECIOUS DOLLARS?: Define "good." I mean, it's not any worse than the other trillion we'll spend to help out the rich who don't work in the private equity industry.
CAN WE BE SURE THAT THIS TAX PLAN IS A 'GAME CHANGER?': Absolutely.
CAN I HAVE MY TIP NOW?: No.