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So the end result is... lower taxes all around? Where does the deficit get made up?
by oarsinsync 8y ago
So the end result is... lower taxes all around? Where does the deficit get made up?
- intopieces 8y agoHigh income earners don’t get the credit. Similar to how there is an income cap on incentives for EVs in California
- oarsinsync 8y agoBut high income earners still benefit from a lower effective rate from the change. If low income earners pay a higher effective rate than they would under income taxation, which is to be neutralised by credits, and higher income earners pay a lower effective rate, who makes up the deficit?