Looking at my records,
Before Trump, I paid about 22% of my gross income in federal income tax
After Trump, I paid about 14%.
Huge difference
Then I moved to an S-Corp for 2019, and I paid 17% of my gross income in federal tax
It was explained to me that I made more than the QBI limit and thus it was phased out.
That SUCKED
I always thought you could save money with an S-Corp, but alas was not the case for me.
So now I'm purposely working a little less, to make about 50K less, so I can get more of a tax break.
I suspect that our taxes are going to go up in the next 2-4 years no matter who we have for president, although it might come sooner and more swiftly if a democrat gets elected. In fact it probably should too. Unless we can grow our economy at a much higher percentage than what we had pre-COVID. The two ways we paid for all government spending post WW2 was the high tax rates and by growing the economy.
If we could endlessly give out money for free to corporations and watch rich people become filthy rich without imposing new taxes, then we have been going at this all wrong for the past 50 years. We should just give people money from the govt.