This week we talk about one of life’s two certainties: taxes. Specifically, we have a lively discussion about the recently-released Republican tax plan. In addition to covering the plan’s major points and some of its implications for taxpayers, we discuss the history of taxes, how taxes work today, and why size matters when talking about small businesses and tax reform.

Mentioned on the show:

The high-level version of the Republican tax plan

If you prefer visuals, the NY Times outlines the plan in 6 charts

A brief history of taxes in the US

An IRS survey finds that 90% of Americans see paying taxes as a civic duty

Part of understanding how tax reform will impact you involves knowing the difference between tax rates and tax brackets

The impact of the plan on small business owners may depend on what we mean by small business, which can vary widely by industry

Bonus:

What do small business owners think of tax reform? It depends on who you ask.

A bit of a blast from the past: Greece illustrates one possible outcome of not having a strong tax-paying culture

The Financial Flipside Podcast Episode 4 28:11 Share

The Financial Flipside Podcast

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The Financial Flipside Podcast Episode 4