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I don't think that's corruption, I think that's just politics. It will be easy to get agreement to extend the individual cuts before they expire. It would be mu
by harryh 9y ago
I don't think that's corruption, I think that's just politics. It will be easy to get agreement to extend the individual cuts before they expire. It would be much harder to get agreement to extend the corporate cuts.
If you want to cut both then you basically have to do it this way.
- junkcollector 9y agoThere is also the fact that the renewal vote happens on an election cycle. If the republicans hold the house, the tax cuts will be renewed. If the democrats take control, they will be forced to expire the cuts since they are planning to campaign heavily on the tax bills as bad for the public. This means that if the GOP loses control, the following year taxes will go up on most voters and help reinforce the GOP narrative of the Democrats as the party of taxation.
- notfromhere 9y agoThe corporate cuts are permanent. Only the individual ones expire
- harryh 9y agoYes, I am aware. And my comment explained the political reasons behind that decision.
- okaram 9y agoI think it is the Republican party showing its priorities :) Tax cuts for the reach are more important than anything else. Hopefully we get a repeal of the corporate cuts, with even an increase to compensate for the years it was cut.
- harryh 9y agoCorporate taxes are bad. 1) Their inherent complexity leads to a lot of wasted work and other distortions away from an efficient allocation of resources. 2) Corporate taxes charge the same rate to rich shareholders as poor shareholders: not progressive. Cutting them is good.