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No. The total tax bill over the next five years was X, given the current laws. Then a bill was passed that reduced that total tax bill over the next five years.
by kyralis 1y ago
No. The total tax bill over the next five years was X, given the current laws. Then a bill was passed that reduced that total tax bill over the next five years. This is a tax cut. It's a little absurd to try to claim otherwise.
- WalterBright 1y agoFailing to increase taxes is not a tax cut.
- kyralis 1y agoThis is the same as saying that a tax cut with an expiration date should be treated as if it were permanent. Are you not aware that these things are different? That there is a difference between an adjustment to a proposed budget and a budget that has been enshrined in law? What's the magical time horizon that changes this? If I change the taxes due for 2026, is that a tax cut? How about 2027? Where's the line between a change in law that is or is not a tax cut with this philosophy? If you want consistency, a change in law that adjusts the tax burden downward from what the burden would be without the change in law is a tax cut. Therefore, a change in the law that makes previously temporary reduced tax levels into permanent reduced tax levels is a tax cut.