Rhetoric about the tax bill has gotten disconnected from the way Americans are likely to feel the bill's effects. At first, the tax bill would provide a tax cut to most Americans. Tax increases for many may come in later years. A near-term economic boost is likely. Added debt may slow the economy in the long run. Since it's looking pretty clear the Republican tax cut plan will become law, I think it's worth walking through how it's likely to be felt by Americans over the next few...

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