The new US tax law, explained with cereal
- Published on: 1/12/2018
- We're a few Crunch Berries short, friends.Subscribe to our channel! http://goo.gl/0bsAjOVox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: http://goo.gl/IZONyEFollow Vox on Twitter: http://goo.gl/XFrZ5HOr on Facebook: http://goo.gl/U2g06oThere’s a new tax law in town. It passed without a single vote from Democrats in the House or the Senate, and it’s a huge windfall for the richest Americans, including President Donald Trump.But Republicans didn’t just want any new tax law, they wanted to reform the tax code. To give the richest Americans a big tax cut while still funding the government’s essential functions, like building roads and flying fighter jets, the GOP needed to find tax revenue somewhere else. To do that, they had to start taxing income that used to be tax-free, by closing loopholes and eliminating deductions. If all of that sounds boring and confusing, fear not. We’ve broken it down in this video. Just don’t blame us if it leaves you craving cereal.