From a European perspective it's extremely difficult to understand why one would pass a tax bill that increases rather than decreases the disparity between rich and poor. The most enduring effects will be felt on the corporate side, which will disproportionally benefit the rich. Let's see how many new jobs will be created, and if capital allocation remains all that rational in the coming years; I share the view of Joachim that it will be a costly measure at the wrong time of the cycle.