"The tax scam is absolutely ridiculous." In response to Reply #0
There are so many loopholes and weird nonsense things in it, that it's guaranteed to cause a recession no matter what.
In their eagerness to punish Blue states, they managed to give a negative tax cut to everyone making less than 250K per year that was itemizing in New York, California, New Jersey and several others. Those states have never gone into recession without dragging the rest of the country with them, AFAIK.
They set a minimum tax on offshore facilities of 10%, on EXCESS PROFIT, IOW, profit in excess of 10% return on facility cost. This gives a gargantuan incentive to offshore, and another gargantuan incentive to merge with lower profit feeder companies and offshore both, to get enough facilities offshore to get below that magic 10%, thus paying zero tax. (None of them seemed to notice that the only reason this stuff works in Europe is VAT.)
Bringing in all that ridiculous cash while companies were already sitting on 2.3 trillion in cash means more mergers.
Between mergers costing jobs and offshoring, plus the recession guaranteed in the big Blue states, we're going down HARD. Given FED rules, we'll probably see it admitted that we're in recession "due to unexpected effects of the tax bill" about July of 2019.