The Moving Parts of Tax Reform (w/ Eric Owens): Paradox Podcast Episode 73
Eric Owens, a D.C.-based tax attorney, joins us to analyze the GOP’s new bill for tax reform and what it means for millennials and the average American family.
This bill is definitely good news for …
Tax professionals. A tax code overhaul is first and foremost a boon to tax attorneys because it will make filing your taxes more complicated and will likely put people a bit on edge. Plus, some ambiguity in the bill itself makes it a “wait and see” game.
The Rubio effect
We debate whether or not the stand Sen. Marco Rubio (R-Fl.) took for expanding the child tax credit in the bill was a passion project or merely a political move. Matthias has a conspiracy theory about Rubio’s stance that involves a plot with Senate Majority Leader Mitch McConnell.
How does tax reform affect millennials?
Fortunately for anyone pursuing a Ph.D. or still paying off student loans, the latest version of the bill shouldn’t affect you. In earlier versions of tax reform, Republicans considered taxing graduate students on tuition waivers and ending deductions for student loan interest.
Jordan: I was disappointed by “Three Billboards in Ebbing, Missouri.”
Eric: People got upset over taxpayer funding going toward preparation for aliens, but I thought it was cool.
Matthias: I’m going to be so mad when the baby boomers all of a sudden care about the elderly because they reach old age.