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The reason is to balance rate decreases at the top percentile, to decrease the corporate tax rate, and to finance lost revenues from dropping the estate tax. Th
by awinder 9y ago
The reason is to balance rate decreases at the top percentile, to decrease the corporate tax rate, and to finance lost revenues from dropping the estate tax. The rest of the reasons people state are needlessly obtuse or purposefully deceptive.
There’s one mathematical reason, it’s because this bill can not increase deficit past a certain amount, and so to balance giveaways to the rich we must demand more of every other income quintile.
- hcknwscommenter 9y agoBingo. I think you hit the nail on the head here. To offset the decrease in revenues expected from the upper quintiles (and the corporate tax), they need to raise revenues elsewhere. This is not a change that can be addressed by a simple accounting trick.
- harryh 9y agoGetting rid of deductions of these types is also almost universally favored by economists.