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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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.
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!
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Do you think there will ever be any financing? Will all the goodies will be extended? Will it be a joint deal to let baddies expire, w/ other Δs? One thing that's tough distributionally is that expensive tax cuts have always preceded large spending cuts.https://medium.com/@BBKogan/republican-tax-cuts-will-lead-to-benefit-cuts-to-critical-programs-just-as-they-have-in-the-past-fcf8ff4c3a44 …
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How will Dems be in control? With press like this US democracy will be dead. Dems won Virginia by 10 points and still lost the legislature.
@jonathanweisman is blind to the future.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Meanwhile, the damage done to Middle Class, the economy and infrastructure will accrue, requiring, literally, any POTUS to raise taxes on only demo available: Middle Class and Poor. Awesome.
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And if the dems dont have control of the presidency, when there is an even larger, insurmountable federal debt from these tax cuts? If youre gonna cheer on corporate tax cuts for selfish reasons, just be transparent about it.
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Do you honestly believe what you are writing? 'Dems will be back and it's obvious what will happen.' How bad will debt/deficit be then? What about if another 'foreign conflict' is deemed a 'priority.' Did you know Trump would win in '16 too? Your theory is puzzling and sloppy.
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My bet above stands. The surer you are that more I'm sure you're wrong. I remember the Iraq weapons of mass destruction. That's the Times for you.
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