Reply to Face It: You (Probably) Got a Tax Cut

Forum Index » Money and Finances

Reply to "Face It: You (Probably) Got a Tax Cut"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The thing that really sucks about this tax bill is it’s impermanent nature. The entire point of the tax code is to enable long term planning. They used accounting tricks to make this work and it’s going to screw us all in a few years. [/quote]

You aren't a capital allocator, so your short term and long term planning looks roughly the same. Business cuts were permanent, so they can plan. [/quote]

+1.

And I'm sure the GOP will try to make the cuts permanent when the time comes.[/quote]

The challenge is that they can't (per their own rules) because of the financial impact on the Treasury--that's why they weren't permanent in the first place. The tax cuts are pushing the average annual deficit north of $1 trillion each year they're in place, and our national debt is already the highest it's ever been. I think things will look quite different economically by the time the current cuts expire in five years, so it will be interesting to see what a solution looks like.

But yes, the uncertainty is definitely challenging even for individual taxpayers who have to assess decisions like whether or not to buy a home without knowing whether the SALT caps and mortgage deduction limits may become permanent. Ditto for the changes to exemptions and the child tax credit, for those who have kids.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics