Trump is creating the most beautiful government revenue model since Pope Leo X discovered he could sell indulgences to fund St. Peter’s Basilica. Remember when government export controls were about national security?

Additionally, “no tax on overtime” is a federal income-tax change only. State and local income taxes still apply (unless your state separately conforms), and Social Security and Medicare taxes are still withheld on all wages, including overtime.

President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.