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The analysis that I have seen indicate most will get tax cuts, that is not the issue. They couldn’t pass this tax cut without offering some small concessions to the middle class.
Middle class will get significant cuts.
If under SALT limit, most will pay the equivalent of 10 months of the tax they paid in 2017.
No future President/Congress is going to agree to raising taxes, which is effectively what allowing tax cuts to sunset would be. Silliness to even throw that out.
Oh really?
Obama allowed *some* of the tax cuts to sunset.
Regan tuned around barely a year or so after his tax cuts and had to raise them several times.
And so it goes.
Unless you have some crystal ball that accurately predicts future economy of USA in ten or so years I'd go easy on making such blanket statements.
If this so called tax "reform" does not bring about the benefits intended and or the US government otherwise is in need of revenue in future, you can bet those tax cuts will either sunset and or things reworked.
Besides it isn't a POTUS's call; legislation must come out of the House and signed off by senate to extend certain provisions of this tax law, otherwise they sunset automatically.
I am trying to think back to the Obama years and any tax cuts at all the benefited the working or middle class. 8 years of democrat rule and nothing at all happened. In fact with Obamacare taxes went up for almost all Americans. Yet the complaint from the left is the working and middle class are not getting enough with this tax plan. Again, what did the dem's do for 8 years besides double the debt which the working and middle class will have to pay for eventually?
The other complaint is the wealthy in liberal states won't get their full SALT deductions and their overpriced homes may lose some value.
My how the tables have turned.
Blue states subsidize red states. And this new tax plan proves it.
The analysis that I have seen indicate most will get tax cuts, that is not the issue. They couldn’t pass this tax cut without offering some small concessions to the middle class.
Obama and the dems had 8 years to come up with some sort of tax relief for the middle class but instead raised taxes. IMHO the reason the economy has been growing so slowly since 2008 has been a lack of a tax cut. I expect 2018 to be an incredible year for economic growth in the US. Easily north of 4% for the year. Best under Obama 2.6% with huge budget deficits.
I am trying to think back to the Obama years and any tax cuts at all the benefited the working or middle class. 8 years of democrat rule and nothing at all happened. In fact with Obamacare taxes went up for almost all Americans. Yet the complaint from the left is the working and middle class are not getting enough with this tax plan. Again, what did the dem's do for 8 years besides double the debt which the working and middle class will have to pay for eventually?
The other complaint is the wealthy in liberal states won't get their full SALT deductions and their overpriced homes may lose some value.
My how the tables have turned.
The only tax "cut" I recall under Obama was when he suspended Social Security tax paymnents for a short period.
Which, in my mind, was very stupid thing to do considering the SS admin paying out more then it took in already.
So many great prophecies --looking forward to reality.
This. ^ I have to agree.
I am eager to find out what reality is. I certainly hope I’m not going to pay more, but I’m just not sure.
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