The reason the carried-interest 20 percent loophole was created was because corporate profits were taxed at 35 percent.
With the reduction to 21 percent, those individuals can incorporate and will no longer need the loophole.
Also, corporations will no longer need to move to another country just to lower their tax burden. A pass-through corporation (such as "S" corporations) benefited from a lower individual tax rate, but now they can just switch to a regular "C" corporation and be taxed at 21 percent.
There are many reasons for the tax changes that Congress passed. The one thing that a lot of people are not focusing on is the time families will save by not saving receipts, paperwork, etc. We have a room full of paperwork from years of filing.
The present standard deduction is so close to our itemized saved paperwork that any increase will allow many seniors and families to file simple, and not save all that paper knowing that the standard deduction will do.
Jorge Ferro, Babson Park