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President Donald Trump’s signature tax bill,26 enacted when Republicans gained control of the White House and both houses of Congress in 2017, will have cost ro

President Donald Trump’s signature tax bill,26 enacted when Republicans gained control of the White House and both houses of Congress in 2017, will have cost roughly $1.7 trillion by the end of fiscal year 2023. It seems pretty reasonable on magnitude grounds to mention something that cost $1.9 trillion in a single year while and omitting something that cost $1.7 trillion over five.

cmdli 3y ago
> Taken together, the Bush tax cuts, their bipartisan extensions, and the Trump tax cuts, have cost $10 trillion since their creation and are responsible for 57 percent of the increase in the debt ratio since then. They are responsible for more than 90 percent of the increase in the debt ratio if you exclude the one-time costs for responding to COVID-19 and the Great Recession. I don't 100% agree with this article, but I think you are somewhat misrepresenting it. If taxes were at the level they used to be then we would be in a better position debt-wise than we are now. Whether you disagree with raising taxes or not, it does seem reasonable to examine cost-increasing measures like tax cuts.
- bradleyjg 3y ago
  If you are going to aggregate all the tax cuts going back to 2000, you could also aggregate all the spending increases. I don’t think either is a reasonable thing to do. The OP article includes this paragraph: “Getting the debt under control will require taking a serious look at health care, Social Security and the tax code,” CRFB president Maya MacGuineas said in a news release. which mentions taxes. I don’t see what the big problem is with specifically mentioning the ARPA given how absolutely enormous it was. My objection wouldn’t have been not mentioning specific tax cuts, but instead not mentioning CARES which was even larger at $2.2 trillion.

3 ms·

President Donald Trump’s signature tax bill,26 enacted when Republicans gained control of the White House and both houses of Congress in 2017, will have cost ro

by bradleyjg 3y ago

cmdli 3y ago
> Taken together, the Bush tax cuts, their bipartisan extensions, and the Trump tax cuts, have cost $10 trillion since their creation and are responsible for 57 percent of the increase in the debt ratio since then. They are responsible for more than 90 percent of the increase in the debt ratio if you exclude the one-time costs for responding to COVID-19 and the Great Recession. I don't 100% agree with this article, but I think you are somewhat misrepresenting it. If taxes were at the level they used to be then we would be in a better position debt-wise than we are now. Whether you disagree with raising taxes or not, it does seem reasonable to examine cost-increasing measures like tax cuts.
- bradleyjg 3y ago
  If you are going to aggregate all the tax cuts going back to 2000, you could also aggregate all the spending increases. I don’t think either is a reasonable thing to do. The OP article includes this paragraph: “Getting the debt under control will require taking a serious look at health care, Social Security and the tax code,” CRFB president Maya MacGuineas said in a news release. which mentions taxes. I don’t see what the big problem is with specifically mentioning the ARPA given how absolutely enormous it was. My objection wouldn’t have been not mentioning specific tax cuts, but instead not mentioning CARES which was even larger at $2.2 trillion.