This article isn't a thriller, unless tax policy tickles your imagination. But it's an important investment topic, and I'll keep the discussion at a high level.
There's nothing wrong with Congress' goals for its tax-reform proposal, the Tax Cuts and Jobs Act. The bill seeks to end corporate America's incentive to stash assets overseas; to simplify the tax code; and to reduce the effect that tax policy plays on personal decisions, such as buying a home. All fine things. I also have no quarrel about which taxpayers Congress decided to reward, and which it will punish. Those were political decisions, and thus outside the scope of this column.