Brooks: One of the Impacts of Tax Bill Could Be People Declaring Themselves as Corporations to Pay Lower Rates

On Friday’s “PBS NewsHour,” New York Times columnist David Brooks discussed the impacts of the GOP tax bill and argued that “we could all — it doesn’t make sense to work for a company anymore, when you can declare yourself a corporation and pay the corporate rate.”

Brooks said, “I have not been a big fan of this tax bill for a whole number of reasons, one of which I think was revealed today. When you look at the — all the intricacies of it, not all the big things, little changes that could have vast effects on American society. For example, we’ve got the health insurance system, the employer-based health system because of some minor change during World War II. This has all sorts of minor things. Because we had no hearings, because we had no expert review and no time to actually look at what’s in the bill, it has dozens of that kind of minor changes that could have massive effects.”

He continued, “For example, we could all — it doesn’t make sense to work for a company anymore, when you can declare yourself a corporation and pay the corporate rate. And so that could just have massive effects throughout the economy. So it’s actually kind of hard to know what the effects of this tax bill will be, because I think most of them are unintended.”

Follow Ian Hanchett on Twitter @IanHanchett

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