In case you haven’t heard, nearly all that’s good and pleasant in the world died this week. The tax bill passed.

The bill has variously been described as “a disaster,” “one of the great robberies” of history, and a “massive attack” on the middle class — and that’s just Bernie Sanders. Other critics say it will explode the deficit, enrich the undeserving rich, immiserate the underserved poor, and ring a “death knell” for the sinking middle class. Nancy Pelosi calls it a “Frankenstein,” albeit one that will return to kill its Republican creators.

To which any G.O.P. political strategist would rejoin: Keep it up, folks.

There are things genuinely to dislike in the tax bill. It raises taxes on too many people. It barely cuts the top income-tax rate. It doesn’t eliminate the Alternative Minimum Tax. Taxpayers will get kicked into higher brackets (of which there are still too many) sooner, thanks to a new measure of inflation.

Worst of all is probably the provision for full expensing, which allows companies immediately to deduct the cost of capital investments from their tax bill. This is supposed to be the most stimulative part of the bill, especially for smaller companies looking to grow. But it’s also an invitation to invest — and over-invest — based on tax incentives rather than the straight business case. Bankruptcies will follow.