Posted on 12/22/2024 9:47:40 AM PST by Navy Patriot
President-elect Donald Trump hailed Sunday as "the 7th Anniversary of the Trump Tax Cuts becoming Law," vowing to "deliver the largest tax cuts in the history of our country" by this date next year.
"Today is the 7th Anniversary of the Trump Tax Cuts becoming Law," Trump wrote in a Sunday morning Truth Social post before he was slated to speak at a salute to Arizona gathering for Turning Point Action, which will air live and in its entirety on Newsmax, starting at 12:30 p.m. ET. "'Happy Birthday!'
"Next year, we will deliver the largest Tax Cuts in the History of our Country," he added. "MAKE AMERICA GREAT AGAIN!"
Many of the provisions of the Tax Cut and Jobs Act signed by Trump in 2017 are scheduled to expire at the end of 2025. This means that more than $4 trillion in tax increases will take effect Jan. 1, 2026, charging next year's Congress and administration with the hefty task of grappling with the tax hikes.
(Excerpt) Read more at newsmax.com ...
lotsa folks will be learning coding....
Where’s the top of the Laffer Curve?
No one has ever lowered taxes enough to find out.
Well, it’s the only way you will actually increase revenue to the Federal government so DOGE can start paying down the debt.
Hmmmmmm! I would prefer less talk like this. If the dems and rinos manage to throw enough blockades up, there may be some difficulty getting stuff done. Early warnings lead to early plotting and planning on their part.
😊👍🎅
I could use it. And I know I’m not the only one.
The metaphor needs to change, AI is eliminating a lot of coding. As I write.
I wonder what the Democrats and RINO types will say to justify letting the Trump tax cuts expire.
AS noted, letting the TRUMP tax cuts expire, is the same thing as a tax increase.
Good point.
We need more money for the yukes and ‘undocd citizens’?
THAT is a very good point!
Increased economic activity increases the AMOUNT of taxes paid to the Government.
How will tax cuts instantly reduce the deficit?
Answer: They won’t.
They will worsen it, which will add to the debt, which will increase interest paid on debt service — which will increase gov’t spending, by definition.
There is no solution. Pretending there is one makes it worse.
In addition, no one has reduced government spending either. All gains in taxes have been outstripped by spending increases.
Cutting rates does not necessarily reduce tax revenue, as people are less likely to shelter income with lower tax rates.
I’d be happy enough for the 2017 tax cuts stay in effect indefinitely. Anything extra will be more than welcome, especially if there is also a major cut in wasteful spending!
Thank you, President Trump!
If you don’t reduce tax revenue, that means increase in the deficit, then debt and instant increases in interest paid and thus govt spending.
There is no solution.
Not if it’s not offset with cuts.
How’s this been working out the past 54 years?
I’m ALL FOR destroying the budget...cutting it to the point that there is STILL money to put towards the deficit after the tax cuts...but not if nothing changes.
We are WAY WAY WAY PAST the point where an improved economy will make up for the 2 to 3 Trillion dollar deficit each year!!
Cut taxes...AND slash and burn.
Or do neither
errr increase tax revenue
You are correct, a sustainable system requires fiscal responsibility and restraint at both ends of Government Funding, restraint in spending and restraint in taxation.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.