He didn't win the House. He seems to have a flawed understanding of our system of government. We don't have a Parliamentary system, nor is he a dictator.
Yes to this and I quote "given a choice between unemployment and higher taxes I'd probably take the former" And you ain't quitting your job regardless of what the tax rate is next year. You are going to do just what all the rest of are going to do, keep working and trying to get ahead and enjoy life. That my friend is why this country is going to be ok, we're all going to keep on keeping on with life regardless of the politics. I went out and made some money this morning, didn't think about nothing but doing my job and having fun while I'm at it. Multiply that by 100 million others and there is the answer. The tax rate being 28, 34 or 37 % is just details and doesn't change the big picture.
Exactly + 1. I have had several phone meetings with my accountants, we have altered some biz structures going forward. I have had to sort of give up some ownership, but the net to me is better in some cases. And, by doing my trading in 2 different entities, I should save some money. I'm still a bit skeptical, since all I know for sure at this point, is that I'll receive an accounting bill for $5k or so, damn. But, life goes on, and I certainly won't alter my work ethic based on a few percentage points.
So it's safe to assume the Fed won't need another tax increase in the next 4 years? Somehow I get the feeling that in about 2 years time we'll be reading how this hadn't worked out as well as expected. You do know the states are going to need a tax increase on these same people, major cities will tax these same people also.