2017 was an insane year. The politics, the weather, the sports and the memes kept the country in both civil conversation and at each other’s throats. Maybe more the latter. But the very end of 2017 brought us something we should all be able to agree on; sweeping tax reform!
The new tax reform bill signed into law in December lowers tax rates across the board for the majority of Americans. Most important, these low rates will leave more of your money where it belongs – in your pocket. More money to save, more money to invest in bitcoin, more money to spend on avocado toast or even a house.
OK, so you get to keep more of your money. That’s great. But what else will tax reform do for you? After all, you need a job to earn the money you want to keep more of, and hopefully one that pays well, right? You’re in luck, because tax reform is going to drive economic growth that leads to higher wages and more job opportunities.
This isn’t just theory. It’s already happening. Literally hours after tax reform was passed by the House, companies began announcing their plans to reinvest in themselves and their employees. Americans for Tax Reform compiled a list of nearly 40 companies intending to provide large bonuses and increase retirement contributions for employees, raise starting wages, give more to charity, reinvest in domestic growth and hire more staff.
This is the reality of tax reform. You will have more job opportunities with higher wages that are taxed at a lower rate. New year, new you…with lots more of your hard-earned money.