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

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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?

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