US Tax Changes: Giving with One Hand, Taking with the Other

"Tax changes include: elimination of taxes on tips, pension income, and overtime pay; reinstating 2017 tax breaks; closing loopholes on mortgage interest deductions; and tax incentives for 'Made in America' projects. As usual, one hand gives while the other takes away. Mortgage interest deductions are a major tax break for Americans due to widespread 30-year home loans, so many will end up paying more. Retirees and waitstaff benefit. Real issues remain unsolved: Americans are the only global fools paying taxes without being US tax residents; crypto taxes are among the highest in the world—if you want to be the crypto capital, remove them! High property taxes (2% annually) and overall rates (up to 35% federal + state + sales taxes) make the system oppressive."

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