For decades, Republicans have been the party of tax cuts. But now, those at the top of the financial food chain may find themselves in for a surprise that reflects the Republican party’s evolution from the party of the rich to the party of the working class.
tax reduction
Top 10 Words That (Sort Of) Rhyme With “Tax”
Late-night talk show host David Letterman delighted audiences with his wry, subversive “Top Ten” lists for an impressive 33 years. Since he left his show, BuzzFeed has taken over the listicle game. So here, in their honor, we present The Top 10 Taxing Words That (Sort Of) Rhyme With “Tax.” Drumroll, please!
“Don’t Drive Angry!”
Three hundred sixty-four days out of the year, Punxsutawney, Pennsylvania is a sleepy one-horse town of 5,800 souls, nestled in the foothills of the Appalachians 84 miles northeast of Pittsburgh. But on that other glorious day of the year, it’s the center of the universe. On February 2, a mangy groundhog named Phil dons a top hat and comes out of his hole to look for his shadow. If he sees it, we’re doomed to six more weeks of winter. If not, spring is on its way.
Cool Cats
Someday, accountants will be cool. I don’t just mean in the “Oh, you’re majoring in accounting, that’s cool” sense. I mean Steve-McQueen-cruising-through-Rome-on-a-Vespa cool. Someday, little kids who dream of growing up to be accountants will collect bubblegum cards with Big Four partners’ pictures on one side and detailed career stats on the back. (Tax dollars saved, by year! Endorses checks: right-handed!) When they get to high school, they’ll be as popular as the quarterback of the football team and the Homecoming Queen. (56.8% of CPAs are women.) Someday, cool college kids will skip fraternities to party with the Accounting Club.
2025 Tax Forecast
2025 promises to be a big year for taxes. Right now, the individual provisions of the Tax Cuts and Jobs Act of 2017 set our current standard deductions and tax brackets. Those rules expire, like Cinderella’s carriage at midnight on December 31. At that point, if Washington hasn’t extended them, taxes go up for as much as 80% of Americans. That’s an unacceptable result for Democrats and Republicans alike. And it promises a bruising effort ahead as Congress weighs continuing the cuts against a $36 trillion national debt.
End of an Era?
Last month, Peacock aired the series finale of their monster hit Yellowstone. (One big spoiler to come!) For five and a half seasons, the show chronicled the ups and downs of the Dutton family, heirs to the largest contiguous ranch in the United States, as they fought to defend their land. On one side, greedy developers conspired to turn it into the next Park City. On the other, the neighboring Broken Rock tribe wanted to reclaim their ancestral home. Real Montana ranchers say the show is remarkably true-to-life, especially the gunfights, beatings, explosions, and occasional “long black train” to the back of the head.