#特朗普税改

1. Lowering Corporate Taxes = Bringing Capital Home

At that time, a large amount of cash flow from American companies (especially tech giants) existed overseas, such as in Ireland and Singapore, to avoid the high 35% U.S. corporate tax. Trump cut the corporate tax rate to 21%, also offering a one-time 'repatriation tax rate discount', the logic is clear:

• To bring back the money earned overseas

• Stimulate domestic investment, stock buybacks, boost the domestic stock market

• Reduce the circulation of global capital, with the U.S. benefiting first

2. Personal Tax System Adjustment = Middle-Class Reshuffle + Regional Restructuring

Increasing the standard deduction and limiting state tax deductions (SALT cap of $10,000) may seem like tax simplification on the surface, but in reality:

• It hits the middle class in high-tax states (California, New York) hard

• Encourages the movement of people and capital to low-tax states (Texas, Florida)

• Creates a demographic and wealth advantage for Republican-controlled areas

3. Fiscal Deficit? An Acceptable Side Effect

Many economists criticize Trump's tax reform for expanding the deficit. In fact, the growth of the deficit itself is not a problem for Trump—because in his strategic perspective, the focus has never been on 'keeping the books' looking good, but rather:

• Violently activating domestic corporate profits

• Pushing up asset prices (especially in the stock market and real estate)

• Creating a sense of 'prosperity' in the short term, scoring political points

4. Implicit Impact on the Cryptocurrency Ecosystem

This aspect is usually not mentioned in general analyses, but from the perspective of the cryptocurrency world, Trump's tax reform actually:

• Encouraged more high-net-worth individuals to seek non-traditional hedging assets (part of the background for the rise of Bitcoin)

• Increased capital liquidity, boosting risk appetite in emerging markets