Most of it is set to expire. Will Pubs extend it?
I say no…we can’t afford it
I say no…we can’t afford it
Tax Cuts and Jobs Act
- Thread starter Spartans9312
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“Ryan Ellis, a lobbyist and conservative tax activist, said he expects The Number to be closer to zero than to $4 trillion, which is roughly the cost of a full tax-cut extension. The long-term fiscal picture, higher interest rates and increases in federal debt since 2017–a combination of pandemic spending, Trump’s tax cuts and President Biden’s spending increases—make this a much more challenging economic environment than seven years ago.”
Hopefully. I don’t want to lose that 20 percent
I’m done paying more taxes. Been paying them since I was 14. Let the young guys like UncleMark take up the slack.
They shouldn't, but they will. And they will pretend that the economic stimulus resulting from it will somehow increase revenues.
The future growth that is loss from taking the capital from private hands. Companies will invest less and consumers will consume less. Both lead to less growth.
You know, dollars are somehow more active and useful if they are in the hands of the rich, rather than the people who actually need to spend them.
Wealthier billionaires should be everyone's top priority. Nothing drives the economy like all the wealth in the hands of a few.
Some of it should be extended and made permanent.
1. Incentives for business investment
2. Limiting of some deductions
3. Expanded child tax credit
But they need paid for with spending cuts and will probably need to increase other taxes, as well
It’ll be extended, no doubt. Should it be extended is another question. Once DOGE does it’s thing we should be able to afford it.
It has already worked for Musk, Dogecoin went way up. So it did what he wanted.
Tax cuts are the best stimulus because they unleash the American people to do what they do and that is to go after their dreams
That's not responsive. They will still increase deficits. Do you care about deficits? I don't, to be honest. I'm starting to care more about them, as they are getting so big they are hard to ignore. But if you care about deficits, you can't just cheer on tax cuts without facing up to the consequences.
I do care about deficits. Spending that is runaway is the major culprit.
Why make it worse with tax cuts, though? Wouldn't the responsible thing to do be to balance the books before giving up more revenues?
I'm just responding to Van's general argument, here. Has nothing to do with the semantics involved with TCJA extensions.
Accept it has everything to do with it. Why does the government get to increase spending? Why make it worse? Wouldn’t the responsible thing be to keep spending the same or cut it?
If you care that much about deficits, absolutely. But, as I'm saying to VPM, if that's really important to you, then you make those cuts and get that spending down before you talk about increasing deficits with tax cuts.
Deficits aren’t the only thing conservatives care about. I care about having the smallest possible government and Republicans getting re-elected to set policy. How does raising taxes to meet increased government spending accomplish those goals?
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It doesn't. But again, I'm only responding to VPM's strange comment to me about how awesome tax cuts are. I had simply made a comment that I expected them to be extended, and for the politicians to sell us the standard BS that they would be so economically stimulating, that they would actually increase revenues. VPM chose to respond with some basic platitudes about why tax cuts are the bees knees. I'm simply drilling down into how non-responsive his post to me was.
Tax cuts every time they are done bring more money into the treasury. The problem is we don't hold the politician's feet to the fire to not spend the new found money. What you have to understand is the freedom tax cuts bring to the individual is good for the treasury because it stimulates the economy. The economy can grow or shrink depending upon government policy.
No, they absolutely do not, but thank you for finally getting around to the nonsense I predicted at the beginning.
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