People who use 2027 distribution tables to say tax plans hurt the middle class are being disingenuous. Tax writers had middle class tax cuts expire precisely because they know Congress will extend them. The damage is to the debt.
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1) Respect their agency. Unlike the Bush cuts, which had everything expire, this bill deliberately has some things permanent. That's a choice. 2) Even in by 2025, tens of millions of people are losing (this is from the prev version, but is very similar).https://twitter.com/BBKogan/status/931721835351298048 …
Yep, it is a choice borne of experience. Dems let tax cuts on the rich lapse, extended all the others. So this time Republicans chose carefully which to make permanent -- the ones that a Democratic president wouldn't keep.
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And the Dem president in 2025 is gonna let the internal offsets go forward? Really tough to game out the politics of a mixed bag, imo, which is why I'm not sure that using 2025 as steady state is fair. Especially given how many things we've seen expire, such as payroll.
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You're right. The state and local tax deduction will be reinstated as will a bunch of other offsets when the Democrats are back in control. The cost of this tax cut will be very large.
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So, you can see the future but no one else should speculate about 10 years from now. Must be so cool to have superpowers!
End of conversation
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Yes, it's a choice. They decided what to put in the bill. Report what is actually in the bill, not what they promise or what you guess will happen in the future.
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WHY WON'T THEY JUST DO A BIPARTISAN BILL? Oh, because they are intent on breaking the country every chance they get.
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Dems let them expire because the rich were/are doing historically well while the middle class continues to struggle. Pretty simple.
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