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I'm guessing this covers just 2018/19 and not the lead up to 2027. A lot of these individual income tax cuts not permanent, and are set to expire in stages towa

I'm guessing this covers just 2018/19 and not the lead up to 2027. A lot of these individual income tax cuts not permanent, and are set to expire in stages towards 2027. The bill is going through reconciliation with senate rules restricting deficits increases after 10 years (the bill is deficit financed to the tune of $1.5 trillion - which is insanity). Pretty much the only permanent features of the bill are the corporate rate, the pass through shenanigans, removal of estate tax, and removal of a number of deductions such as SALT, etc... also sabotaging the ACA marketplaces by repealing the individual mandate.

dionidium 9y ago
This is a prominent criticism, but it strikes me as fundamentally weird to say, yeah, you're right that these are tax cuts, but the cuts expire in 10 years. This is government. Who knows what the world will look like in 10 years? Would, say, 20 years be better? Sure, I guess. But 10 years is a pretty long time. It's pretty difficult to plan most personal finances out that far, anyway. Who knows what your own life will be like in 10 years? Isn't the complaint that the cuts don't last longer tacit approval of the cuts?
- Scalestein 9y ago
  I think the issue is that one set of tax cuts is set to expire while another is not. And it looks a lot like using these expiring cuts to distract average taxpayers from the non-expiring tax cuts for the wealthier class.
- a_humean 9y ago
  As another commentator said, its not really tacit approval of the cuts. The point I and others are making is that these cuts are clearly designed to be a political smokescreen for midterm elections. These cuts are deficit financed giveaways that in most cases will disappear, and in many cases income tax payers will see tax increases on income in later years to finance the permanent cuts elsewhere. The actual goal of the bill are the changes the congress choose to be permanent, which are the cuts on corporate rates, pass-through rates, and estate tax, which benefit a very small group of tax payers.
  - dionidium 9y ago
    I think I’d want to argue that in tax policy, anything nominally permanent isn’t and anything set to expire in 10 years likely won’t. I’d be worried if this were the last ever tax bill, but since it isn’t, and since 10 years is a pretty long time, I don’t think it’s so bad (even if I agree with you about some portions (e.g. the elimination of the estate tax)).

dionidium 9y ago

This is a prominent criticism, but it strikes me as fundamentally weird to say, yeah, you're right that these are tax cuts, but the cuts expire in 10 years. This is government. Who knows what the world will look like in 10 years? Would, say, 20 years be better? Sure, I guess. But 10 years is a pretty long time. It's pretty difficult to plan most personal finances out that far, anyway. Who knows what your own life will be like in 10 years? Isn't the complaint that the cuts don't last longer tacit approval of the cuts?

Scalestein 9y ago
I think the issue is that one set of tax cuts is set to expire while another is not. And it looks a lot like using these expiring cuts to distract average taxpayers from the non-expiring tax cuts for the wealthier class.
a_humean 9y ago
As another commentator said, its not really tacit approval of the cuts. The point I and others are making is that these cuts are clearly designed to be a political smokescreen for midterm elections. These cuts are deficit financed giveaways that in most cases will disappear, and in many cases income tax payers will see tax increases on income in later years to finance the permanent cuts elsewhere. The actual goal of the bill are the changes the congress choose to be permanent, which are the cuts on corporate rates, pass-through rates, and estate tax, which benefit a very small group of tax payers.
- dionidium 9y ago
  I think I’d want to argue that in tax policy, anything nominally permanent isn’t and anything set to expire in 10 years likely won’t. I’d be worried if this were the last ever tax bill, but since it isn’t, and since 10 years is a pretty long time, I don’t think it’s so bad (even if I agree with you about some portions (e.g. the elimination of the estate tax)).