The New Republican Tax Cuts and Jobs Act Will Eliminate $4 TRILLION In ‘Loopholes’ For the Wealthy

The new Republican tax cuts act was passed today, and as is being reported, will cut out trillion of dollars in tax loopholes from the country’s 1%.

From Conservative Post:

Republican #TaxCutsandJobsAct eliminates $4 trillion in loopholes for wealthy

– NO deduction for Member of Congress living expenses

– NO deduction for local lobbying expenses

– NO corporate deduct for expensive meals, entertainment

– NO deduction for excess executive compensation

Do you think this is a good thing, or will these tax breaks inspire the nation’s wealthy to find new, “sneakier” ways to hide their money?

What do you think?

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