#特朗普税改

1. Lowering Corporate Tax = Bringing Capital Home

At that time, a large amount of cash flow from American companies (especially tech giants) was overseas, such as in Ireland and Singapore, avoiding the high 35% U.S. corporate tax.

Trump cut the corporate tax to 21% and offered a one-time 'repatriation tax rate discount.' The logic is clear:

• To bring back money earned abroad

• To stimulate domestic investment, buy back stocks, and boost the domestic stock market

• To reduce global capital flow and benefit the U.S. first

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

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

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

• It encourages the flow of population and capital to low-tax states (Texas, Florida)

• It 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 making the accounts look good, but rather:

• To violently activate domestic corporate profits

• To boost asset prices (especially in the stock market and real estate)

• To create a sense of 'prosperity' in the short term, earning 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 safe-haven assets (part of the backdrop for the rise of Bitcoin)

• Increased capital liquidity, raising the risk appetite in emerging markets