Overall, the effects of the tax reform bills are likely to be mixed, especially when considered over time. Note that none of this analysis is about politics. It is math—or, at worst, economics—where we have to consider both the positive and the negative. Make no mistake, the tax reform bills will have positive effects, especially in the short term and especially for financial markets and investors. We should welcome those. We also, however, have to keep an eye out for the unintended side effects, which will show up over time.
Brad McMillan is the chief investment officer at Commonwealth Financial Network, the nation’s largest privately held independent broker/dealer-RIA. He is the primary spokesperson for Commonwealth’s investment divisions. This post originally appeared on The Independent Market Observer, a daily blog authored by McMillan.