What I wish my vote would be for

[Jim in CT]

Originally Posted by zimmy

a tax code that is less succeptible to manipulation by millionaires and corporations at the expense of the guy making 50k
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trump doubled the standard deduction, and expanded child tax credits. so that guy making 50k a year, especially if he has kids, got a nice tax cut. i’m sorry, but that’s what happened. ask a cpa.
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[PaulS]

Originally Posted by Jim in CT

trump doubled the standard deduction, and expanded child tax credits. so that guy making 50k a year, especially if he has kids, got a nice tax cut. i’m sorry, but that’s what happened. ask a cpa.
Posted from my iPhone/Mobile device

Doesn't the tax cut for people making less than 75k sunset while the cuts above that stay inforce?

[spence]

Originally Posted by PaulS

Doesn't the tax cut for people making less than 75k sunset while the cuts above that stay inforce?

Taxes for everyone but the super rich are set to phase out over the next six or seven years. It was an accounting trick to get the giant tax cuts for business and the wealthy through.

[Jim in CT]

Originally Posted by spence

Taxes for everyone but the super rich are set to phase out over the next six or seven years. It was an accounting trick to get the giant tax cuts for business and the wealthy through.

can you post a link to that?

The way tax cuts pass now, because votes tend to be partisan, theres some legislative gimmick that usually requires an expiration date, but they usually get renewed as no one wants their name of a big tax hike. So I wouldn't be shocked if the entire plan had an expiration date, but it's very shady (and unlikely) to allow high income earners to be exempt from an expiration date.

[detbuch]

Originally Posted by spence

Taxes for everyone but the super rich are set to phase out over the next six or seven years. It was an accounting trick to get the giant tax cuts for business and the wealthy through.

Tax cuts for business was the most important part of the tax cut. Getting a competitive market place in which business doesn't go elsewhere because of tax rates is what was, as planned, attracting business to come here or stay here. More people working was the main purpose. But lowering business taxes is usually demonized by the left as tax cuts for the rich.

[Jim in CT]

Originally Posted by PaulS

Doesn't the tax cut for people making less than 75k sunset while the cuts above that stay inforce?

I honesty don't know, I've never heard that before, and that would be a terrible thing to do if true.