Quote:
Originally Posted by Hank Chinaski
Wait, Mi has always been blue, but because of folks who decided to go third party we are red! So because of Detroit-Sebby I get a tax cut?
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I don't know if you get a tax cut. I honestly couldn't venture a guess. You certainly won't get one on income derived from legal work, but if you dabble in real estate or have non-service related businesses, with the right mix of r/e investment and/or W-2d employees, maybe you get something?
I'm guessing whatever you might get on your best day would be just enough to pay your accountant for the annoyance of working through the calculations. And then you'd have to consider whether there's audit risk, as you know there'll be thousands of shmucks out there characterizing legal work as something else, drawing the eyes of agents to all returns claiming a mix of service and non-service income.
This bill appears to have been written with two aims:
1. Give corporations a general cut to make them competitive globally (a defensible aim, even if most don'y pay much tax anyway);
2. Under cover of that laudable goal, give people in r/e, like Trump, a windfall.
