(12-18-2017 10:17 AM)dawgitall Wrote: The devil is in the details. I think the middle class will mostly benefit in the short run, but in the long run there are major problems.
1. Remember that the individual tax cuts expire in 2025.
Only if the democrats decide against extending them.
Quote:2. The tax bill increases the national debt.
Wrong. The CBO does not take into consideration economic growth and the increase in revenue it generates because they have stated they dont know how to do that. Its like stating my weight will balloon because I plan on increasing my caloric intake from 1500 to 2000 per day, at the same time exercising 5 additional hours per day. But because I dont know how to calculate the reduction of my weight due to the additional exercise hours, I will calculate my future weight on the caloric intake only, and completely ignore what happens with significant additional exercise.
Also, glad to see you are now a deficit hawk.
Quote:3. Does the future congress extend the tax cuts in 2025?
If they dont, then they are responsible for tax increase to the american workers.
Quote:4. Will the economy grow at 3.4.5.6 percent a year like the GOP predicts or is it more likely to run around
1-3 percent at best as most economists suggest.
Will you be butthurt if the economy grows at 4%?
Quote:5. What happens to the deficit and national debt?
The better question is what happened to the deficit and national debt under Obama.
Quote:6. What about SS, medicare and medicaid? Are cuts on the way?
Cuts to benefits? Probably. But this has nothing to do with Trump, and everything to do with the numbnuts who ran the system into the ground for the past few decades. If there is any shot of it getting fixed, it will happen under Trump.