Only if it is fixed. I agree doing "nothing" is not good, but sometimes doing nothing is the best thing you can do for the moment.
I just want to be sure the cure is not worse than the malady. I have a host of descendants who depend on me whether they know it or not, to try to make decisions based on hard facts which will eventually benefit them.
The only numbers we really know are what we have. I have heard a lot of rhetoric about "revenue neutral" which means the Government is going to be getting the same amount. If they have fewer expenses, that could be used to pay down the debt, the service of which is a major expense. Will it? Giving surplus money to Congress has traditionally been like getting a needle junkie to keep the keys to the drug locker. That is why Social Security is such a mess, for starters.
Now I am supposed to trust the spending addicts on Capitol Hill to pass something which will shrink government (and cut all those lovely Government jobs/grants/subsidies which BUY, yes, BUY votes through the ubiquitous application of generous portions of pork), pay off the debt, and reduce my taxes all at the same time.
Maybe, someday, with an end to politics and a judicious return to Constitutional statecraft, such a thing could happen.
But in the real world, I really think I have a far better chance of watching squadrons of pigs take off and land in formation at the local airport.
What I see happening is what is happening here. In the midst of contention and confusion, Congress enacts legislation which changes the tax code to the advantage of....Congress. Which keeps the pork barrel running over, and will earn the incumbents a majority fo the votes in their respective districts. Which means the upper two quintiles get to foot the bill. For those who have just arrived in the lower of those two, it means an increase in tax burden when we should be paying off the house and stuffing those bucks away for retirement.
For those in the lower three quintiles, it is a pure gimmie, especially at the bottom. Thus the votes are there to reelect the COngress and the rest of us can wish solidly in one hand while the other fills up. Human (political) nature.
As far as solutions go, not having one does not mean I cannot object to another. I do not have to be a brain surgeon to know that decapitation is not a viable solution to a brain tumor.
Thank you for your input.